Today's News in Media - 16-08-2016
Ftapcci Hyd
Dear all,
POWER
Growth in electricity demand tapers off in July
The momentum in electricity demand in the first quarter of 2016-17
helped increase power generation.But, July saw the year-on-year growth in
electricity requirement slump to 0.4 per cent indicating a worrisome trend for
the remaining period. Electricity requirement growth was the slowest in July in
the fiscal so far.This also resulted in growth in electricity generation for
the month falling to 1.9 per cent, the lowest in the fiscal. One of the reasons
for lower demand could be the monsoon.Data from the Central Electricity
Authority show that electricity requirement across States grew 6.1 per cent in
April-July , compared to April-July when it was only 0.1 per cent.
http://www.thehindubusinessline.com/todays-paper/tp-news/growth-in-electricity-demand-tapers-off-in-july/article8992121.ece
INTERNATIONAL
Bilateral ties: India, China agree on foreign secretaries-level
dialogue
With less than a month to go before the Prime Ministers of India
and China meet post the NSG fiasco, the two countries have decided to set up a
dialogue mechanism at the level of foreign secretaries for the first time.The
decision to set up a new mechanism at the level of foreign secretaries was
taken during a meeting between External Affairs Minister Sushma Swaraj and
Chinese Foreign Minister Wang Yi, who was on a three-day visit to
India.“A new mechanism at the level of Foreign Secretaries agreed to
discuss ties. It's a new mechanism so earlier mechanisms remain,” said an
official who was present during the talks. The Foreign Secretary-level talks will
be a new mechanism that will encompass all bilateral issues between both the
countries. This will be over and above the Strategic Economic Dialogue (SED)
that both sides already have in place, sources told BusinessLine . The SED was held in 2014 and there
has not been much headway in the talks between both the sides on issues such as
India’s membership at the Nuclear Suppliers Group, defence cooperation
between both the military establishments, rising trade deficit and shrinkage in
Indian exports to China, among others.
http://www.thehindubusinessline.com/todays-paper/tp-news/bilateral-ties-india-china-agree-on-foreign-secretarieslevel-dialogue/article8992122.ece
TAX
Taxing SEZs
The passage of the 122nd Constitutional Amendment Bill a few
days ago has set the GST ball rolling. But even as the shift to a new regime
has acquired a sense of urgency and momentum, it has given rise to
uncertainties in some quarters. One of these is the impact of GST on the tax
treatment of Special Economic Zones (SEZs). Under the present system, imports
by SEZs are not charged excise duty and central sales tax (a levy of 2 per cent
on inter-State transactions). However, some States levy value added tax. SEZ
representatives have rightly argued that the provision in the model GST law
that spells out zero-rated supplies should include those from the domestic
tariff area (DTA) to the SEZs. But laying this out in black and white will
require the consensus of the States concerned.
http://www.thehindubusinessline.com/todays-paper/tp-opinion/taxing-sezs/article8992134.ece
MANUFACTURING
HUB
India can become a manufacturing hub
We are talking about increasing the share of manufacturing in GDP
from the current 17.4 per cent to 25 per cent by 2025. What is the scale of
output required and how can this be achieved?Even at 6 per cent annual GDP
growth rate, India would need to expand its manufacturing value added (MVA) to
$837.7 billion and manufacturing gross output (MGO) to $3.8 trillion to join
the league of top manufacturing nations such as China, the US, Germany, Japan
and Korea. To get there requires investing in various capabilities and
products.
http://www.thehindubusinessline.com/todays-paper/tp-opinion/india-can-become-a-manufacturing-hub/article8992139.ece
BANKING
Need for branches will not disappear in next 10-12 years: Arundhati
Bhattacharya
State Bank of India started the process of assimilation of
associate banks into its fold in 2008 with State Bank of Saurashtra. Two years
later, State Bank of Indore got merged with its parent. After a hiatus of
almost six years, India’s largest bank has rekindled the unfinished
merger agenda — of consolidating the remaining five associate banks with
itself, albeit with a little nudge from the government.Now, SBI is planning to
do this in one go and expects to complete the process by March 2017. Along the
way, it will also acquire Bharatiya Mahila Bank. In an interview to BusinessLine , Chairman Arundhati Bhattacharya
outlines how the consolidation will wring out efficiencies for her bank, the
possibility of adding two more circles, and why despite advances in technology,
branches will still be needed.
http://www.thehindubusinessline.com/todays-paper/tp-money-banking/need-for-branches-will-not-disappear-in-next-1012-years-arundhati-bhattacharya/article8992094.ece
RBI should continue with Rajan’s policies on inflation:
Moody’s
RBI Governor Raghuram Rajan’s policy of maintaining a tight
leash on inflation has showed results and the Reserve Bank should continue with
similar policies and communication going forward, Moody’s Investors
Service has said.Moody’s Investors Service Senior VP Sovereign Risk Group
Marie Diron said credibility and effectiveness of monetary policy are factors
which impact India’s sovereign ratings.Moody’s has a
‘Baa3’ rating on India with a positive outlook.
http://www.thehindu.com/todays-paper/tp-business/rbi-should-continue-with-rajans-policies-on-inflation-moodys/article8992212.ece
City Union Bank to go fully digital by FY17
City Union Bank (CUB) will complete the transformation process
towards digital banking by the end of current financial year, according to the
bank’s Managing Director.“More than 80 per cent of the
customers’ transactions have moved to alternate channels of banking. Now-a-days
all transactions, except opening of safe deposit lockers, can be done by the
customers from their homes through internet or mobile banking. That’s why
we are investing in digital channels,” N. Kamakodi, Managing Director and
Chief Executive Officer, told The
Hindu.
http://www.thehindu.com/todays-paper/tp-business/city-union-bank-to-go-fully-digital-by-fy17/article8992205.ece
STEEL INDUSTRY
Steel Ministry wants review of policies affecting producers
Even as the Centre has extended curbs on steel imports, the Steel
Ministry is pushing for a rethink on domestic policies that are hurting
producers. This includes the railways’ freight policy and the clean
energy cess that was doubled in this year’s Budget.“While power
costs in India are higher than China, Japan or Korea, our steel makers also
suffer due to high railway freight,” said a senior government official.
“With (rates in) sea freight becoming very low, major consumers of steel
near the coast, prefer to import steel as the cost of reaching finished steel
by railways to those areas is higher by about Rs.1,000 per tonne,” he
said.
http://www.thehindu.com/todays-paper/tp-business/steel-ministry-wants-review-of-policies-affecting-producers/article8992209.ece
STATE
Telangana, an example for welfare: Harish Rao
Irritation Minister T. Harish Rao said Telangana stood as an
example for other States in implementation of welfare measures.Addressing a
gathering after hoisting the national flag at the Independence Day celebration
held at Parade grounds on Monday, Mr. Rao said two-year-old Telangana has
etched a place among the fast growing States in India.“Medak district has
once again received national attention with Prime Minister Narendra Modi
launching the Mission Bhagiratha at Gajwel. He also laid foundation stone for
Kothapalli-Manoharabad railway line,” he said, adding that there was good
news to share with the people of the district.
http://www.thehindu.com/todays-paper/tp-national/tp-telangana/telangana-an-example-for-welfare-harish-rao/article8993117.ece
DMRC to help Hyderabad Metro
Hyderabad Metro Rail Limited and Delhi Metro Rail Corporation will
collaborate and work together to develop plans for the phase-II expansion of
Hyderabad Metro Rail network.Apart from exploring different options to raise
financial resources to fund Metro Rail expansion, they have decided to consider
other modes of public transport.Following the advice of Telangana Chief
Minister K Chandrashekar Rao, both metros agreed to work on development plans
for Hyderabad Metro Rail phase-II expansion.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/dmrc-to-help-hyderabad-metro/article8992129.ece
Vizag port plans to set up maritime history museum
The Visakhapatnam port is planning to set up a museum on the
maritime history of the region on the premises of the old lighthouse which was
renovated and thrown open to the public in June last year, according to port
chairman MT Krishna Babu.He said here on Sunday that the old lighthouse was the
original landmark of the Visakhapatnam port. “We are exploring the
possibility of making it a repository of information on the port and its
evolution,” he said.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/vizag-port-plans-to-set-up-maritime-history-museum/article8992132.ece
CM announces Rs. 6,554-cr. package for Anantapur
Taking the Independence Day celebrations to Rayalaseema region for
the second time in three years after bifurcation, the Chief Minister, N.
Chandrababu Naidu announced a Rs. 6,554-crore special development package for
Anantapur district for a plethora of steps that include drought-proofing.By
selecting Anantapur for the flag hoisting and announcement of the largesse, Mr.
Naidu, apparently wanted to remove a perception that Rayalaseema and the
State’s most backward and drought-prone district were being neglected.
“Anantapur was always close to the heart of NTR, our party’s
founder. We will name this Rs. 6,554-crore initiative after after him and with
his inspiration I want to take it forward. A major part of it —Rs. 1,764
crore — will be utilised for drought-proofing.”
http://www.thehindu.com/todays-paper/cm-announces-rs-6554cr-package-for-anantapur/article8992232.ece
KCR for Mumbai to ink pacts on projects
Chief Minister K. Chandrasekhar Rao said that he will go to Mumbai
on August 23 to sign the final agreements on construction of irrigation
projects on inter-State borders with his Maharashtra counterpart Devendra
Fadnavis.Mr. Rao, who received a call from Maharashtra CMO on Sunday, made this
announcement in his Independence Day address at Golconda Fort. By two other
announcements, Mr. Rao said the State government will shortly extend reservations
to Scheduled Tribes and minorities on population basis and that Telangana will
get 1,000 MW from Chhattisgarh in four months.
http://www.thehindu.com/todays-paper/kcr-for-mumbai-to-ink-pacts-on-projects/article8992835.ece
NRIs adopt three villages in Nalgonda
Three non-resident Indians hailing from Telangana came forward to
adopt their respective ancestral villages in Nalgonda district. As part of this
adoption, digital initiatives and the development projects got launched
simultaneously on the occasion of Independence Day on Monday.The project
originated during the recent tour of United States of Telangana Information
Technology Association (TITA) president Sundeep Kumar Makthala when he urged
the NRIs to consider adopting their native villages under the Digithon Digital
Village initiative.
http://www.thehindu.com/todays-paper/tp-national/tp-telangana/nris-adopt-three-villages-in-nalgonda/article8992868.ece
Plane leasing firms may get a boost
The Centre plans to ease norms for aircraft leasing firms to
enable them to take back aircraft quickly from defaulting airlines in a bid to
make its regional connectivity scheme more attractive for such lessors,
according to a top government official.“We are exploring ways to de-risk
the leasing business,” R.N. Choubey, Civil Aviation Secretary told The Hindu.
http://www.thehindu.com/todays-paper/tp-business/plane-leasing-firms-may-get-a-boost/article8992208.ece
Modi’s I-Day message: reform, perform, and transform
In his third Independence Day speech, Prime Minister Narendra Modi
presented a report card of his government’s performance over the past two
years while announcing two new initiatives — a hike in the monthly
pension for freedom fighters and healthcare support for poor families.In a
94-minute speech from the ramparts of the Red Fort, Modi announced an increase
in pension for freedom fighters from Rs. 25,000
to Rs. 30,000 per month. He also announced that
the government will pay up to Rs. 1 lakh
per annum to meet the hospitalisation expenses of Below-Poverty-Line (BPL)
families.
http://www.thehindubusinessline.com/todays-paper/modis-iday-message-reform-perform-and-transform/article8992107.ece
Modi, marketeers ... everyone’s flogging the freedom line
From the ramparts of the Red Fort, we have come to expect a new
slogan every time Prime Minister Modi gets up there to deliver his Independence
Day address to the nation. This year, too, in his third such address, the Prime
Minister, who is fast earning the sobriquet Slogan Murugan came up with a great
catchphrase.After ‘Swachh Bharat’ in 2014, and ‘Start-up
India, Stand up India’ in 2015, this time around it is ‘swarajya se
Su-rajya’. In other words, from self-governance to good governance.
http://www.thehindubusinessline.com/todays-paper/modi-marketeers-everyones-flogging-the-freedom-line/article8992106.ece
Tamil Nadu SEZs seek changes in Model GST law
Special Economic Zone (SEZ) developers and units from Tamil Nadu
— the State which refused to support the Constitution Amendment Bill on
the Goods & Services Tax (GST) in the Rajya Sabha — have expressed
concern that the law could end all tax advantages for such zones. They have
sought changes in the proposed legislation to ensure continuation of
benefits.In a recent representation to the Finance Ministry, the Tamil Nadu
Association of SEZ Infrastructure Developers (TASID) sought more flexibility in
the definition of ‘exports’, zero-rating of all domestic levies on
supplies to SEZs and non-imposition of IGST (tax on inter-State supplies) on
goods imported by the units.
http://www.thehindubusinessline.com/todays-paper/tp-news/tamil-nadu-sezs-seek-changes-in-model-gst-law/article8992120.ece
This is for the information of the members.
R. KULKARNI
Joint Director