Today's News in Media - 13.08.2016
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Ftapcci Hyd
Aug 13, 2016, 2:38:12 AM8/13/16
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Dear all,
What people think Modi should speak about on Independence Day
'Issues of Intolerance', education among issues that readers want the PM to talk about
The Independence Day address is a unique platform for Prime Ministers. It gives them the grandest of stands in the country from where they can set the tone of their tenure. Policies have been announced and catchphrases have been coined on the ramparts of the Red Fort. Prime Minister Narendra Modi has invited suggestions from all citizens for the themes and issues he needs to address in the speech. People were asked to send in their inputs through the MyGov website and app.
http://www.thehindu.com/news/national/what-people-think-modi-should-speak-about-on-independence-day/article8984345.ece
ECONOMY
FinMin rapped for ‘inflated assumptions’ in Budget docs
The Comptroller and Auditor General of India has pulled up the Finance Ministry for not making “sound” assumptions in the Budget documents as well as a lack of transparency in its disclosures under the Fiscal Responsibility and Budget Management Act.
http://www.thehindubusinessline.com/economy/finmin-rapped-for-inflated-assumptions-in-budget-docs/article8981781.ece
Double-whammy: inflation is rising, factory output is falling
A barely growing manufacturing sector and a surging inflation dealt a double-whammy to the economy. Retail inflation surged to 6.07 per cent in July, overshooting the government and central bank’s comfort zone of 5 per cent, even as manufacturing growth remained almost standstill at 0.9 per cent in June.
http://www.thehindubusinessline.com/economy/doublewhammy-inflation-is-rising-factory-output-is-falling/article8981859.ece
UK to provide £4.5 mn for smart cities mission
The United Kingdom’s Department for International Development (DFID) will provide a financial assistance of £4.5 million over a period of 4 years for the smart cities mission, a statement from the Ministry of Urban Development said on Friday. British delegation led by Priti Patel, Secretary of State, DFID, met the Union Minister for Urban Development, Housing & Urban Poverty Alleviation and Information & Broadcasting, M Venkaiah Naidu, here to take stock of the steps taken as a follow-up to the India-UK joint statement issued during PM Narendra Modi’s visit to UK in November 2015.
http://www.thehindubusinessline.com/economy/uk-to-provide-45-mn-for-smart-cities-mission/article8980426.ece
1% green cess on diesel cars not enough, say environmentalists
Environmentalists were let down on Friday when the apex court on Friday reversed its own judgement on banning diesel cars with engines larger than 2000 cc on Delhi roads on payment of one per cent green cess. But, the car industry heaved a sigh of relief.
http://www.thehindubusinessline.com/economy/1-green-cess-on-diesel-cars-not-enough-say-environmentalists/article8981717.ece
CAG differs with Oil Ministry on calculation of estimated LPG subsidy savings
The Comptroller and Auditor General of India has found the estimated savings on account of Direct Benefit Transfer of LPG in 2015-16 to be lower than that of the Ministry of Petroleum and Natural Gas, primarily because of the differences in assumption of key variables. In a report titled ‘Implementation of PAHAL (DBTL) Scheme’ tabled in the Lok Sabha on Friday, the CAG found that the Ministry estimated the savings for 2015-16 to be₹ 9,211 crore by assuming an average LPG cylinder consumption of 12 a year and average subsidy rate of ₹ 169.45 per cylinder.
http://www.thehindubusinessline.com/economy/cag-differs-with-oil-ministry-on-calculation-of-estimated-lpg-subsidy-savings/article8980100.ece
Trade gloom: exports fall in July on weak global demand
Exports of goods slipped back into the negative territory in July 2016 posting a fall of 6.84 per cent to $21.68 billion compared with $23.28 billion in the same month last year. The decline has come as a disappointment for the industry and policy makers who were hoping for a turnaround after shipments increased the previous month following 18 months of fall.
http://www.thehindubusinessline.com/economy/trade-gloom-exports-fall-in-july-on-weak-global-demand/article8981824.ece
National Committee on Trade Facilitation set up
The Centre has constituted a National Committee on Trade Facilitation (NCTF) under the Chairmanship of the Cabinet Secretary. This follows India’s ratification of the WTO Agreement on Trade Facilitation (TFA) in April this year. The first meeting of the NCTF is likely to be convened shortly.
http://www.thehindubusinessline.com/economy/national-committee-on-trade-facilitation-set-up/article8981813.ece
It rained Bills this Monsoon Session of Parliament; 14 cleared
The just concluded Monsoon Session of Parliament was one of the most productive on the legislative front in recent times going by the number of Bills passed. The landmark Constitutional (Amendment) Bill 2014 to enable GST regime led the rain of 14 Bills cleared during this almost-month-long session that started on July 18 and ended on August 12, according to PRS Legislative Research, an independent outfit that tracks the functioning of Parliament.
http://www.thehindubusinessline.com/economy/policy/it-rained-bills-this-monsoon-session-of-parliament-14-cleared/article8981862.ece
Retail inflation at 6.07%: it shows Raghuram Rajan got his rate assessment right
Raghuram Rajan should be a worried man to see the July consumer price index (CPI) inflation at 6.07 per cent. That number is above the 2-6 percent target of the band agreed between the central bank and the government in early 2015 and is way above the RBI’s March, 2017 target of 5 per cent. But Rajan should be happy to see this number since it is a fitting reply to his critics who blamed him for not cutting the interest rates too fast and too sharply, said Madan Sabnavis, chief economist at Care rating agency.
http://www.firstpost.com/business/retail-inflation-at-6-07-it-shows-raghuram-rajan-got-his-rate-assessment-right-2953334.html
ENERGY
Electricity may get costlier as states demand higher royalty on coal
The State Government of Chattisgarh’s request for a revision in royalty rates on coal to 30 per cent will push up the cost of electricity by 7 per cent or 10-12paisa/kWh, estimates India Ratings and Research (Ind-Ra). The government has constituted a study group to consider the revision in the royalty rates based on the request from the State Government of Chattisgarh for a royalty hike to 30 per cent from the existing 14 per cent ad-valorem.
http://www.deccanchronicle.com/business/economy/120816/electricity-may-get-costlier-as-states-demand-higher-royalty-on-coal.html
Govt plans 160 MW renewable energy projects at major ports by 2017
Shipping Ministry is keen to promote the use of renewable sources of energy and is in the process of installing 160.64 MW solar and wind-based power systems at all major ports at a cost of Rs 408 crore. "The Ministry aims to set up 90.64 MW of solar energy capacity at twelve major ports and 70 MW of wind energy capacity at four major ports by 2017," Shipping Ministry said in a statement.
http://www.deccanchronicle.com/business/economy/110816/govt-plans-160-mw-renewable-energy-projects-at-major-ports-by-2017.html
BANKING & FINANCE
RBI releases draft guidelines for customer liability in case of fraudulent transactions
Bank customer will not be liable to pay for fraudulent online transactions that occur from his account outside his control, however, any delay can cost him Rs 5000 crore, the Reserve Bank of India said in draft norms on Thursday.
http://economictimes.indiatimes.com/articleshow/53658006.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
AGRI BUSINESS
Higher pulses acreage, good monsoon drive up kharif sowing
Sowing of pulses in the ongoing kharif season has outstripped last year’s planting by a wide margin as the area under all crops till August 12, at 954.15 lakh hectares (lh), is a 6.5 per cent increase over sowing in the same period last year at 895.91 lh. Acreage under pulses increased 33 per cent to 130.17 lh, while the area under rice rose 7 per cent to 326.08 lh; coarse cereals increased by 6 per cent to 173.56 lh and oilseeds posted a rise of 5.13 per cent to 172.25 lh, according to data collated from States and released by the Agriculture Ministry.
http://www.thehindubusinessline.com/economy/agri-business/bihar-gets-time-till-monthend-to-enroll-farmers-under-pm-crop-insurance-scheme/article8981746.ece
Monsoon may stay subdued in the South until month-end
The week ending Wednesday left a rainfall deficit of -46 per cent over the South Peninsula, and forecasts signal a largely subdued monsoon for the region during the rest of August. An extended range forecast issued by the India Meteorological Department, Indian Council of Agricultural Research and the Central Research Institute for Dryland Agriculture suggested this on Friday.
http://www.thehindubusinessline.com/economy/agri-business/monsoon-may-stay-subdued-in-the-south-until-monthend/article8981760.ece
LOGISTICS
Gadkari: ₹50,000 cr to be spent on river-front, coastal development
India is poised to harness its 20,000 km of river-fronts and 7,500 km of coastline with an initial investment of ₹50,000 crore, Union Minister Nitin Gadkari said here today. He said this while flagging off the trial run of two vessels carrying Maruti Suzuki cars and construction material from here.
http://www.thehindubusinessline.com/economy/logistics/gadkari-50000-cr-to-be-spent-on-riverfront-coastal-development/article8981724.ece
Hyderabad Metro phase II: Delhi Metro to work in development plans
Hyderabad Metro Rail Limited and Delhi Metro Rail Corporation shall 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 the metros agreed to work on development plans for Hyderabad Metro Rail phase-II expansion.
http://www.thehindubusinessline.com/economy/logistics/hyderabad-metro-phase-ii-delhi-metro-to-work-in-development-plans/article8981037.ece
Reforms in rail cargo under-way: Suresh Prabhu
The Ministry of Railways has lined up a slew of reforms in the cargo segment, according to Suresh Prabhu, Union Minister for Railways. Speaking after flagging off two new trains, Gulbarga-Hyderabad Intercity Express and Mumbai LTT-Kazipet Tadoba Express, here on Monday, the minister said though two/thirds of earnings of Railways come from freight traffic, the segment was neglected.
http://www.thehindubusinessline.com/economy/logistics/suresh-prabhu-waves-green-flag-for-rail-cargo-reforms/article8960381.ece
STATES
Telangana Government keen to be among first to ratify GST Bill
TS is aiming to become one among the first 10 states in the country to ratify the GST Bill. The state government is planning to convene a special session of Legislative Assembly either in the last week of this month or first week of September to ratify the Bill. Assam became the first state in the country to ratify the GST Bill on Friday. The GST Constitutional Amendment Bill needs to be ratified by at least 16 of the 31 states, including the Assemblies of Union Territories Delhi and Puducherry, before it can receive the President’s assent.
http://www.deccanchronicle.com/business/in-other-news/130816/telangana-keen-to-be-among-first-to-ratify-gst-bill.html
This Is for the information of the members.
R. KULKARNI
Joint Director
What people think Modi should speak about on Independence Day
'Issues of Intolerance', education among issues that readers want the PM to talk about
The Independence Day address is a unique platform for Prime Ministers. It gives them the grandest of stands in the country from where they can set the tone of their tenure. Policies have been announced and catchphrases have been coined on the ramparts of the Red Fort. Prime Minister Narendra Modi has invited suggestions from all citizens for the themes and issues he needs to address in the speech. People were asked to send in their inputs through the MyGov website and app.
http://www.thehindu.com/news/national/what-people-think-modi-should-speak-about-on-independence-day/article8984345.ece
ECONOMY
FinMin rapped for ‘inflated assumptions’ in Budget docs
The Comptroller and Auditor General of India has pulled up the Finance Ministry for not making “sound” assumptions in the Budget documents as well as a lack of transparency in its disclosures under the Fiscal Responsibility and Budget Management Act.
http://www.thehindubusinessline.com/economy/finmin-rapped-for-inflated-assumptions-in-budget-docs/article8981781.ece
Double-whammy: inflation is rising, factory output is falling
A barely growing manufacturing sector and a surging inflation dealt a double-whammy to the economy. Retail inflation surged to 6.07 per cent in July, overshooting the government and central bank’s comfort zone of 5 per cent, even as manufacturing growth remained almost standstill at 0.9 per cent in June.
http://www.thehindubusinessline.com/economy/doublewhammy-inflation-is-rising-factory-output-is-falling/article8981859.ece
UK to provide £4.5 mn for smart cities mission
The United Kingdom’s Department for International Development (DFID) will provide a financial assistance of £4.5 million over a period of 4 years for the smart cities mission, a statement from the Ministry of Urban Development said on Friday. British delegation led by Priti Patel, Secretary of State, DFID, met the Union Minister for Urban Development, Housing & Urban Poverty Alleviation and Information & Broadcasting, M Venkaiah Naidu, here to take stock of the steps taken as a follow-up to the India-UK joint statement issued during PM Narendra Modi’s visit to UK in November 2015.
http://www.thehindubusinessline.com/economy/uk-to-provide-45-mn-for-smart-cities-mission/article8980426.ece
1% green cess on diesel cars not enough, say environmentalists
Environmentalists were let down on Friday when the apex court on Friday reversed its own judgement on banning diesel cars with engines larger than 2000 cc on Delhi roads on payment of one per cent green cess. But, the car industry heaved a sigh of relief.
http://www.thehindubusinessline.com/economy/1-green-cess-on-diesel-cars-not-enough-say-environmentalists/article8981717.ece
CAG differs with Oil Ministry on calculation of estimated LPG subsidy savings
The Comptroller and Auditor General of India has found the estimated savings on account of Direct Benefit Transfer of LPG in 2015-16 to be lower than that of the Ministry of Petroleum and Natural Gas, primarily because of the differences in assumption of key variables. In a report titled ‘Implementation of PAHAL (DBTL) Scheme’ tabled in the Lok Sabha on Friday, the CAG found that the Ministry estimated the savings for 2015-16 to be₹ 9,211 crore by assuming an average LPG cylinder consumption of 12 a year and average subsidy rate of ₹ 169.45 per cylinder.
http://www.thehindubusinessline.com/economy/cag-differs-with-oil-ministry-on-calculation-of-estimated-lpg-subsidy-savings/article8980100.ece
Trade gloom: exports fall in July on weak global demand
Exports of goods slipped back into the negative territory in July 2016 posting a fall of 6.84 per cent to $21.68 billion compared with $23.28 billion in the same month last year. The decline has come as a disappointment for the industry and policy makers who were hoping for a turnaround after shipments increased the previous month following 18 months of fall.
http://www.thehindubusinessline.com/economy/trade-gloom-exports-fall-in-july-on-weak-global-demand/article8981824.ece
National Committee on Trade Facilitation set up
The Centre has constituted a National Committee on Trade Facilitation (NCTF) under the Chairmanship of the Cabinet Secretary. This follows India’s ratification of the WTO Agreement on Trade Facilitation (TFA) in April this year. The first meeting of the NCTF is likely to be convened shortly.
http://www.thehindubusinessline.com/economy/national-committee-on-trade-facilitation-set-up/article8981813.ece
It rained Bills this Monsoon Session of Parliament; 14 cleared
The just concluded Monsoon Session of Parliament was one of the most productive on the legislative front in recent times going by the number of Bills passed. The landmark Constitutional (Amendment) Bill 2014 to enable GST regime led the rain of 14 Bills cleared during this almost-month-long session that started on July 18 and ended on August 12, according to PRS Legislative Research, an independent outfit that tracks the functioning of Parliament.
http://www.thehindubusinessline.com/economy/policy/it-rained-bills-this-monsoon-session-of-parliament-14-cleared/article8981862.ece
Retail inflation at 6.07%: it shows Raghuram Rajan got his rate assessment right
Raghuram Rajan should be a worried man to see the July consumer price index (CPI) inflation at 6.07 per cent. That number is above the 2-6 percent target of the band agreed between the central bank and the government in early 2015 and is way above the RBI’s March, 2017 target of 5 per cent. But Rajan should be happy to see this number since it is a fitting reply to his critics who blamed him for not cutting the interest rates too fast and too sharply, said Madan Sabnavis, chief economist at Care rating agency.
http://www.firstpost.com/business/retail-inflation-at-6-07-it-shows-raghuram-rajan-got-his-rate-assessment-right-2953334.html
ENERGY
Electricity may get costlier as states demand higher royalty on coal
The State Government of Chattisgarh’s request for a revision in royalty rates on coal to 30 per cent will push up the cost of electricity by 7 per cent or 10-12paisa/kWh, estimates India Ratings and Research (Ind-Ra). The government has constituted a study group to consider the revision in the royalty rates based on the request from the State Government of Chattisgarh for a royalty hike to 30 per cent from the existing 14 per cent ad-valorem.
http://www.deccanchronicle.com/business/economy/120816/electricity-may-get-costlier-as-states-demand-higher-royalty-on-coal.html
Govt plans 160 MW renewable energy projects at major ports by 2017
Shipping Ministry is keen to promote the use of renewable sources of energy and is in the process of installing 160.64 MW solar and wind-based power systems at all major ports at a cost of Rs 408 crore. "The Ministry aims to set up 90.64 MW of solar energy capacity at twelve major ports and 70 MW of wind energy capacity at four major ports by 2017," Shipping Ministry said in a statement.
http://www.deccanchronicle.com/business/economy/110816/govt-plans-160-mw-renewable-energy-projects-at-major-ports-by-2017.html
BANKING & FINANCE
RBI releases draft guidelines for customer liability in case of fraudulent transactions
Bank customer will not be liable to pay for fraudulent online transactions that occur from his account outside his control, however, any delay can cost him Rs 5000 crore, the Reserve Bank of India said in draft norms on Thursday.
http://economictimes.indiatimes.com/articleshow/53658006.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
AGRI BUSINESS
Higher pulses acreage, good monsoon drive up kharif sowing
Sowing of pulses in the ongoing kharif season has outstripped last year’s planting by a wide margin as the area under all crops till August 12, at 954.15 lakh hectares (lh), is a 6.5 per cent increase over sowing in the same period last year at 895.91 lh. Acreage under pulses increased 33 per cent to 130.17 lh, while the area under rice rose 7 per cent to 326.08 lh; coarse cereals increased by 6 per cent to 173.56 lh and oilseeds posted a rise of 5.13 per cent to 172.25 lh, according to data collated from States and released by the Agriculture Ministry.
http://www.thehindubusinessline.com/economy/agri-business/bihar-gets-time-till-monthend-to-enroll-farmers-under-pm-crop-insurance-scheme/article8981746.ece
Monsoon may stay subdued in the South until month-end
The week ending Wednesday left a rainfall deficit of -46 per cent over the South Peninsula, and forecasts signal a largely subdued monsoon for the region during the rest of August. An extended range forecast issued by the India Meteorological Department, Indian Council of Agricultural Research and the Central Research Institute for Dryland Agriculture suggested this on Friday.
http://www.thehindubusinessline.com/economy/agri-business/monsoon-may-stay-subdued-in-the-south-until-monthend/article8981760.ece
LOGISTICS
Gadkari: ₹50,000 cr to be spent on river-front, coastal development
India is poised to harness its 20,000 km of river-fronts and 7,500 km of coastline with an initial investment of ₹50,000 crore, Union Minister Nitin Gadkari said here today. He said this while flagging off the trial run of two vessels carrying Maruti Suzuki cars and construction material from here.
http://www.thehindubusinessline.com/economy/logistics/gadkari-50000-cr-to-be-spent-on-riverfront-coastal-development/article8981724.ece
Hyderabad Metro phase II: Delhi Metro to work in development plans
Hyderabad Metro Rail Limited and Delhi Metro Rail Corporation shall 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 the metros agreed to work on development plans for Hyderabad Metro Rail phase-II expansion.
http://www.thehindubusinessline.com/economy/logistics/hyderabad-metro-phase-ii-delhi-metro-to-work-in-development-plans/article8981037.ece
Reforms in rail cargo under-way: Suresh Prabhu
The Ministry of Railways has lined up a slew of reforms in the cargo segment, according to Suresh Prabhu, Union Minister for Railways. Speaking after flagging off two new trains, Gulbarga-Hyderabad Intercity Express and Mumbai LTT-Kazipet Tadoba Express, here on Monday, the minister said though two/thirds of earnings of Railways come from freight traffic, the segment was neglected.
http://www.thehindubusinessline.com/economy/logistics/suresh-prabhu-waves-green-flag-for-rail-cargo-reforms/article8960381.ece
STATES
Telangana Government keen to be among first to ratify GST Bill
TS is aiming to become one among the first 10 states in the country to ratify the GST Bill. The state government is planning to convene a special session of Legislative Assembly either in the last week of this month or first week of September to ratify the Bill. Assam became the first state in the country to ratify the GST Bill on Friday. The GST Constitutional Amendment Bill needs to be ratified by at least 16 of the 31 states, including the Assemblies of Union Territories Delhi and Puducherry, before it can receive the President’s assent.
http://www.deccanchronicle.com/business/in-other-news/130816/telangana-keen-to-be-among-first-to-ratify-gst-bill.html
This Is for the information of the members.
R. KULKARNI
Joint Director
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