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Indian FMCG firms outpace MNCs in growth, revenue: ASSOCHAM-TechSci study
Nov 02,2016

During the FY 2016, domestic Fast-moving consumer goods (FMCG) companies have performed significantly well vis-n++-vis the multinational companies in India, according to the just concluded study by ASSOCHAM-TechSci Research.

The combined overall revenue of selected eight MNCs during the FY 16 registered a total of $9436.66 million, whereas the combined revenue of selected seven Indian FMCG is $11066.46 Million, reveals the joint study.

The highest profit after tax margin of leading Indian FMCG is maintained at 25.48% by ITC as comparative to Procter & Gamble Hygiene & Health Care among selected Leading MNC players in FMCG Sector in India, which maintained the highest profit after tax margin by 17.03% which is comparatively lower.

The study has observed performance analysis of selected Indian FMCG Companies that the ITC is leading amongst others with its recorded 25.48% After Taxes Profit Margin (PAT) during the Financial Year, 2016; as its Profit After Taxes is $ 1514.57 Million against revenue of $ 5944.79 Million. While Britannia Industries stands second among other selected ones in terms of generated revenue by $1222.75 Million during the FY 2016 and has registered growth in revenue by 10.76% as comparative to FY2015, however its After Taxes Profit Margin (PAT) is 9.43% which is comparatively lower than its peers in the sector.

The performance of Dabur India is next to ITC in terms of After Taxes Profit Margin (PAT) registered with 16.34% which is $ 144.54 Million against the revenue of $884.62 Million. In terms of After Taxes Profit Margin (PAT), the Godrej Consumer Products is close to Dabur India with 15.37% which is on the basis of $113.80 Million of PAT against revenue of $740.24 Million.

The Marico also performed closely with that of Godrej Consumer Products as the percentage of PAT margin remained 14.19% which comes out on the basis of the disclosed figure of PAT $107.98 Million against the $761.14 Million of revenue. About the performance of Amul, although the company has revenue $743.69 Million, which is slight more than Godrej Consumer Products but the PAT margin is least amongst others having just 0.32%. In case of Amul, the reason can be the fact of controlled prices and nature of milk and milk made products.

The Performance of Patanjali Ayurved has been unmatched and leaves behind all its competitors in the segment with record growth of 146.31% in the revenue on Y-o-Y basis. As the Patanjali Ayurved has achieved the revenue of $769.23 Million during FY 2016 against just $ 312.31 Million during FY 2015.

After analyzing the performance of selected Multi-National Companies of FMCG Sector in India, the study has observed that the Hindustan Unilever is leading with its revenue earned $4921.10 Million with 3.84% Y-o-Y growth in the revenue. But its PAT margin during the year is $628.06 Million i.e only 12.76% which is comparatively lower than its competitor. As data analysis shows that Procter & Gamble Hygiene & Health Care is leading amongst others with its recorded 17.03% After Taxes Profit Margin (PAT) during the Financial Year 2016 because its Profit After Taxes is $ 65.10 Million against revenue of $ 382.20Million.

Where the performance of Glaxosmithkline Consumer Healthcare has recorded 15.94% PAT margin for having its After Taxes Profit of $105.68 Million against Revenue of $662.88Million, the Colgate-Palmolive (India) achieved 13.85% PAT Margin with its $88.69Million against revenue of $640.35 Million.

Gillette India achieved 10.19% PAT Margin for its just $32.77Million of PAT against $321.62 Million of revenue. The performance of Nestle India has declined during the FY2016 by 17.04% in the revenue achieved upto $1257.74 Million comparative to FY2015 when it was $1516.13 Million. Hence the Overall PAT margin during the year remained only 6.89%. The logic behind the data decline of Nestle India can be publicly known facts of post Maggy issue.

About the performance of PepsiCo India, there is 13.00% growth in the revenue during the FY16, when it has achieved $1250.77 Million as Compared to $1106.88 Million during FY15 and thereby the company could manage to reduce the negative Profit After Taxes from $43.08 Million in FY15 to $ 27.23 Million during FY16 however, company could not make it possible to have satisfactory overall profit as there was negative PAT margin by 2.18%.

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NHAI Awards Contract for 4-laning of Phagwara - Rupnagar section in the State of Punjab
Nov 02,2016

The National Highways Authority of India (NHAI) has issued Letter of Award (LOA) for development of national highway section in the state of Punjab under phase IV of National Highways Development Projects (NHDP).

The details of project are as follows:

Sl. No.NH No.SectionLength Project Cost (Crore)Contractors name1344A4-Laning of Phagwara - Rupnagar section81 kmRs. 1444 croreM/s G.R. Infraprojects Ltd.

The 81 km long Phagwara - Rupnagar section passes through Banga Town and proposed Nawashahir bypass and terminates at Rupnagar. This will be the shortest route for movement between Amritsar and The City Beautiful, Chandigarh, two most important cities of Punjab and also tourist hub for Sikh pilgrimage. The project will help in expediting the improvement of infrastructure in Punjab and in reducing the time and cost of travel.

The project will have 4 structures (Grade separator/flyover), 1 major bridge, 22 minor bridges, one Vehicular Underpass and one Pedestrian Underpass. The project would be executed on Hybrid Annuity mode and scheduled time of completion of project is 30 months from the date of commencement.

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Kerala declared Open Defecation Free
Nov 02,2016

The State of Kerala became the third State overall and the largest State so far to be declared Open Defecation Free (ODF) under the Swachh Bharat Mission (SBM) (Gramin). The declaration was formally made by the Chief Minister of Kerala, Shri Pinarayi Vijayan, in a magnificent ceremony at the Central Stadium, Thiruvananthapuram. Shri Vijayan also distributed awards to and felicitated district collectors and other government officials who had been instrumental in bringing about this landmark achievement for the State.

With this, all 14 districts, 152 blocks, 940 Gram Panchayats and 2117 villages of the State have been declared free from open defecation. Freedom from open defecation has been proven to lead to significant health benefits in terms of incidences of water-borne diseases, especially in children, and provide safety and dignity for all, especially women and senior citizens. Kerala, with a rural population of approximately 3.5 crores, is also the largest State so far to have achieved the ODF Status, after Sikkim (~6 lakhs) and Himachal Pradesh (~70 lakhs).

Speaking on the occasion, the Chief Minister, Shri Pinaray Vijayan, emphasized the importance of behaviour change communication in the efforts made by the State to achieve ODF status. He also underscored the need to sustain this status now that it has been achieved through a continued focus on sanitation.

Dr KT Jaleel, State Minister for Local Self Government, Welfare of Minorities, WAKF and Haj Pilgrimage, in his Presidential address, spoke about the importance of effective solid and liquid waste management to truly create a Swachh Bharat and Kerala.

In his welcome address on the occasion, the Chief Secretary, Shri SM Vijayanand emphasized the role of local governance in sustaining the ODF Status of the State and to focus on solid and liquid waste management in the next phase of efforts.

The Secretary, Union Ministry of Drinking Water and Sanitation, Shri Parameswaran Iyer, in his address, lauded the State governments focused efforts on sanitation and congratulated the State on this landmark achievement. He assured that the Centre will continue supporting the States efforts towards creating a Swachh Bharat and Swachh Kerala in the next phase as well, as they continue their efforts to sustain ODF and focus on solid and liquid waste management.

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Indias manufacturing growth shifts up a gear: Nikkei India Manufacturing PMI
Nov 01,2016

Supported by stronger contributions from three of its five sub-components - new orders, output and stocks of purchases - the headline seasonally adjusted Nikkei India Manufacturing Purchasing Managers IndexTM (PMITM) climbed to a 22-month peak in October. Rising from 52.1 in September to 54.4, the latest reading was indicative of a robust improvement in manufacturing business conditions that was in line with the long-run series average.

Once again, consumer goods producers outperformed their intermediate and investment goods counterparts, registering stronger rates of expansion for both output and new orders.

In October, output increased for the tenth straight month and at the quickest rate in nearly four years. Survey respondents attributed the latest rise in production to strong growth of new orders.

The amount of new work received by manufacturers grew markedly during October, with anecdotal evidence linking the latest rise to improved underlying demand. In fact, the rate of expansion was at a 22-month high. Data indicated that although foreign orders contributed to the upturn in total new work, the rate of growth in new business from abroad eased to a three-month low.

Outstanding business rose again during the latest survey period. The overall rate of accumulation was solid and the quickest in almost three years, with survey members reporting capacity pressures. In spite of this, businesses left employment unchanged.

Amid reports of orders being fulfilled directly from stocks, holdings of finished goods decreased again. That said, the rate of inventory depletion was modest and little-changed since September.

The average price of inputs rose markedly during October, with the rate of inflation quickening to the fastest since August 2014. Survey participants reported higher prices across a wide range of goods, but particularly highlighted steel, plastic and petrol.

Firms passed on to clients part of these higher cost burdens by raising their prices charged. The rate of output price inflation was the fastest in six months, but modest in the context of historical data.

Companies also attempted to offset the effects of marked input cost inflation by purchasing and storing a greater level of pre-production items. Buying levels grew at the strongest rate in 14 months, while stock levels increased at the fastest pace since July 2015.

Finally, the time taken for suppliers to deliver inputs was broadly unchanged (on average) in October.

Commenting on the Indian Manufacturing PMI survey data, Pollyanna De Lima, Economist at IHS Markit and author of the report, said, October data provide positive news for Indias economy, as manufacturing output and new orders expanded at the fastest rates in 46 and 22 months respectively.

The sector looks to be building on the foundation of the implied pick-up in growth in the previous quarter. Supporting this was the RBIs MPC announcement of a further 25 basis-point reduction in its policy rate to 6.25%. The extended easing cycle, however, brought upside risks to inflation, with manufacturers seeing purchase costs rising at the quickest pace in over two years. Part of the increase in cost burdens was passed on to consumers by way of higher selling prices, which is likely to continue on an upward trend as we head towards the year end.

Nevertheless, the breadth of the upturn in manufacturing should assist in its sustainability. Although the consumer goods sector again outperformed its intermediate and investment goods peers, all three sectors reported strong and accelerated growth in October. The domestic market was the prime source of new business gains, but lets not forget that there is also a robust export component in these positive numbers.

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Eight core infrastructure sector output rises 5.0% in September 2016
Nov 01,2016

The Eight Core Infrastructure Industries comprising nearly 38% of the weight of items included in the Index of Industrial Production (IIP) has recorded 5.0% growth in its output in September 2016 over September 2015.

Its cumulative output growth was 4.6% during April to September 2016-17.

Coal production (weight: 4.38%) declined by 5.8% in September 2016 over September 2015. Its cumulative index during April to September 2016-17 increased by 1.2% over corresponding period of previous year.

Crude Oil production (weight: 5.22%) declined by 4.1% in September 2016 over September 2015. Its cumulative index during April to September 2016-17 declined by 3.3% over the corresponding period of previous year.

The Natural Gas production (weight: 1.71%) declined by 5.5% in September 2016 over September 2015. Its cumulative index during April to September 2016-17 declined by 4.4% over the corresponding period of previous year.

Petroleum Refinery production (weight: 5.94%) increased by 9.3% in September 2016 over September 2015. Its cumulative index during April to September 2016-17 increased by 7.9% over the corresponding period of previous year.

Fertilizer production (weight: 1.25%) increased by 2.0% in September 2016 over September 2015. Its cumulative index during April to September 2016-17 increased by 5.6% over the corresponding period of previous year.

Steel production (weight: 6.68%) increased by 16.3% in September 2016 over September 2015. Its cumulative index during April to September 2016-17 increased by 7.2% over the corresponding period of previous year.

Cement production (weight: 2.41%) increased by 5.5% in September 2016 over September 2015. Its cumulative index during April to September 2016-17 increased by 4.5% over the corresponding period of previous year.

Electricity generation (weight: 10.32%) increased by 2.2% in September 2016 over September 2015. Its cumulative index during April to September 2016-17 increased by 5.1% over the corresponding period of previous year.

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Crop-Specific Infrastructure Creation Scheme Soon - Food Processing Minister
Oct 28,2016

A scheme for crop specific infrastructure creation is to be introduced shortly, stated Harsimrat Kaur Badal, Minister of Food Processing Industries, at the 6th Cold Chain Summit organized by the Confederation of Indian Industry (CII) in association with the Ministry of Food Processing Industries, Ministry of Agriculture and National Center for Cold Chain Development (NCCD).

The Minister said that the scheme would enable farmers to become entrepreneurs and start their own food processing or cold chain transportation ventures. Cold chain development would contribute to the target of doubling farmers incomes, reduce waste, and strengthen the agri supply chains.

Badal added that with FDI in place, farm produce could be directly linked with retail outlets. She suggested creation of FPOs (Farmer Producer Organisation) for crop specific clusters for top agri and horticultural produce in the states. The Minister asked CII to create a task force to link these FPOs to Industry.

S.K. Pattanayak, Secretary, Ministry of Agriculture, urged more investments in the agriculture sector and highlighted the necessity for cold chains. He added that the Government has several schemes for post harvest management and development, including cold chains.

J P Meena, Additional Secretary, MoFPI, outlined the impact of the GST regime on the food sector and associated cold chain infrastructure. He urged industry to adapt to the impending changing regime to maximize efficiencies.

T. Nanda Kumar, Former Chairman National Dairy Development Board (NDDB), Chairman-CII Jury Cold Chain Awards, called for right infrastructure support to the food processing industry. The industry needs better quality raw material both in terms of intrinsic quality and in terms of food safety. He also urged for the need of business models which are purely not price arbitrage, but will give larger benefits to farmers and which will reduce wastage and increase turnover.

Pawanexh Kohli, Chief Executive Officer and Chief Advisor, National Centre for Cold Chain Development, stated the need to increase farmers opportunity to sell more, and linking them to more markets.

Chandrajit Banerjee, Director General, Confederation of Indian Industry, mentioned that CII has been working on building a strong service portfolio in cold chain and will continue to engage in training and capacity building activities, promote partnerships to strengthen the cold chain infrastructure in the country, and develop post- harvest management protocols as avenues for strengthening crop - specific cold chain infrastructure.

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84,460 more affordable houses for urban poor sanctioned for five States
Oct 28,2016

Ministry of Housing & Urban Poverty Alleviation has approved construction of 84,460 more affordable houses for urban poor under Pradhan Mantri Awas Yojana(Urban) in five States with a total investment of Rs.3,073 cr for which Central Assistance of Rs.1,256 cr has been approved.

To be built under the Beneficiary Led Construction component of PMAY (Urban), West Bengal has been sanctioned 47,379 houses with an investment of Rs.1,918 cr for which Central Assistance of Rs.711 cr has been approved.

    Punjab got 15,209 houses sanctioned with an investment of Rs.424 cr and Central Assistance of Rs. 217 cr.

    Jharkhand has been sanctioned 12,814 houses at a total cost of Rs.464 cr with Central Assistance of Rs.192 cr.

    Kerala got 5,968 houses with an investment of Rs.179 cr for which Central Assistance of Rs.89 cr has been approved.

    Manipur, for the first time has got 3,090 houses approved for construction with a total investment of Rs.88 cr with Central Assistance of Rs.46 cr.

Under the Beneficiary Led Construction component of PMAY (Urban), each eligible beneficiary belonging to Economically Weaker Sections is provided Central Assistance of Rs.1.50 lakh for expansion/upgradation of existing house as per the Guidelines.

            With these approvals, the details of affordable houses approved for the benefit of urban poor in these five States, under the four different components of PMAY (Urban) so far are:

StateTotal houses approvedTotal investment involved (Rs. Cr)Total Central Assistance

so far approved (Rs. Cr)

West Bengal1,22,2594,9461,834Jharkhand   52,9861,919  795Punjab  26,563   745  369Kerala  15,267   442  220Manipur    3,090     88    46

   With these latest approvals, a total of 10,95,804 affordable houses have been approved during the last one year under PMAY (Urban) with a total investment of Rs. 62,740 cr for which Central Assistance of Rs.16,289 cr has been approved.

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Himachal Pradesh declared Indias Second Open Defecation Free State
Oct 28,2016

The State of Himachal Pradesh was today declared Open Defecation Free (ODF), making it the second State in the country (after Sikkim) to achieve the feat.

With this, Himachal Pradesh has successfully achieved a total rural sanitation coverage of 100% in the State, with all 12 out of 12 districts in the State being both, declared as well as verified, as ODF.

Speaking at the occasion Chief Minister, Shri Virbhadra Singh, said that he was very happy and proud that his State was the first large State in the country to have achieved this milestone. He said that the State of Himachal Pradesh would be very happy to share lessons that they have learnt in this journey with other States to help realize the vision of a Swachh Bharat.

Addressing the gathering, the Union Minister for Drinking Water and Sanitation, Rural Development and Panchayati Raj, Shri Narendra Singh Tomar, said that Himachal Pradesh would not have been able to lay claim to this landmark achievement if making sanitation a priority had not become a jan aandolan, a peoples movement, in the State.

He said that he was very confident that it was thanks to the people of Himachal Pradesh that not only had the State achieved the ODF Status, but would be able to sustain it in the future as well.

The Union Ministry for Health and Family Welfare, Shri JP Nadda, in his address, said that as Himachal Pradesh was also his home State, this was an occasion that brought double joy to him. He also spoke about the close relationship between access to sanitation and good health for rural India. He said that the two Union Ministries will work closely together to achieve convergence in the pursuit of a Swachh and healthy India.

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Cargo Commitments for Multimodal Terminal at Haldia
Oct 28,2016

The Inland Waterways Authority of India (IWAI) has received a commitment for transport of 5.92 million tons (MTs) of cargo volume per annum through the Multimodal Terminal at Haldia by the year 2018. This follows a series of consultations IWAI held at Haldia with various industries, firms, shipping lines, cargo operators, shippers and manufacturers. The main items for which commitments have been received are fly-ash, edible oil, vegetable oil, gypsum, etc. Fly-ash is expected to be the major cargo with a commitment of 3.8 MT followed by vegetable oil (0.63 MT), cement (0.36 MT), among others.

IWAI is to construct a Multimodal Terminal at Haldia under Jal Marg Vikas Project (JMVP) which is being implemented with the technical and financial support of the World Bank at a cost of Rs. 4200 crore for augmenting navigation on Haldia-Varanasi segment of the National Waterway-1. To construct the terminal, land measuring 61 acres has been taken on lease at Haldia Dock Complex from Kolkata Port Trust. The terminal is located in the Coastal Regulatory Zone and requires CRZ clearance from the West Bengal Coastal Zone Management Authority. Construction work of the terminal would commence soon after CRZ clearance is received.

Addition to Haldia, two Multimodal Terminals are being constructed under JMVP. Construction has commenced at the Varanasi terminal and Sahibganj terminal has been awarded on 14th Oct, 2016. The completion of JMVP would ensure commercial navigation of vessels with capacity of 1500-2,000 DWT Tonnage on National Waterway-1.

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PNB Housing Finance Linkages with the Parent Remains Strong
Oct 28,2016

PNB Housing Finances (PNBHFL; IND AAA/Stable) linkages with its parent Punjab National Bank (PNB; IND AAA/Stable) is likely to remain strong even post the initial public offer, says India Ratings and Research (Ind-Ra). The current rating of PNBHFL reflects Ind-Ras expectation of continued support from PNB.

PNBHF is planning to raise INR30bn through an IPO, the proceeds of which will be used to support its growth plans. Post the planned issuance, PNBs stake in the company would settle at around 37%-39% from 51%. Ind-Ra expects the reduced shareholding will not materially alter the strong linkages between PNB and PNBHFL.

PNB housing shares its brand name with the bank and the latter has management control as well. PNB has the authority to appoint the MD for the company and the majority of the executive directors of PNBHFL are deputed from the bank. These linkages are expected to continue post the IPO. PNB will continue to remain the single largest shareholder over the medium term.

PNBHFL offers PNB a strong foothold in the fast expanding housing finance segment which is complementarity to their respective customer segments. PNBHFLs loan book grew at a CAGR of 60% over FY13-FY16, while its profit after tax grew at a CAGR of 53% over the same period.

Ind-Ra will take appropriate action on the rating/outlook in case of a shift in PNBs willingness to support PNBHFL (e.g. by way of equity/funding/liquidity/branding). Any announcement of a significant stake sale by PNB, to the extent that it ceases to remain PNBHFLs largest shareholder and/or relinquishes control can also trigger a negative rating action on PNBHFL. A negative rating action can also result from a substantial weakening of PNBHFLs credit profile.

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Platinum and diamond jewellery preferred choice this Diwali, Dhanteras: ASSOCHAM Survey
Oct 28,2016

Diamond studded or platinum jewellery is leading the trend this Diwali on the back of growing change in the mind set of women, particularly those working , away from their important role of homemakers, who take jewellery more as a daily wearable than buying gold as investment avenue, an ASSOCHAM survey based on jewellers and consumer feedback has noted.

High gold prices and innovations on the part of jewellery firms, especially the large houses, is driving the change in the fashion trend. Even within gold jewellery, the trend is seen on lower cost wearables, though more needs to be done to tempt consumers. Small items like earring, rings and light bangles see heavy demand.

The survey, which comes on the eve of Dhanteras, found that 79 per cent jewellers are focusing on platinum-based diamond jewellery over traditional pure play gold and silver ornaments to tap the changing preferences of consumers. The demand for diamond jewellery is estimated to have grown by 30-35 per cent this season year on year Platinum too has seen an excellent growth of 25% this year, the survey said.

The survey covered 350 jewellery-makers based in Delhi-NCR, Mumbai, Ahemdabad, Chennai, Kolkata, Hyderabad, Chennai, Bangalore, Chandigarh and Dehradun.

ASSOCHAM also interacted with about 500 working and non-working women in Ahmedabad, Bengaluru, Chennai, Delhi-NCR and Mumbai to gauge their shopping habits during Dhanteras.

With high import duty and increased base price, the investment oriented consumers are seen less in the bullion market, while the business model is moving towards the wearable jewellery , easy on the pocket, even though it may not have too much of weight.

n++That is the real challenge.....Can they (jewellers) sell some decent jewellery for say, Rs 5,000-10,000 or between Rs 15,000-20,000. That is where the demand lies, ASSOCHAM Chairman of Gold Council said today.

The overall share of platinum and diamond based jewellery in the market is expected to take on a significant share of the gold jewellery sales in the near future, reports say. Demand for diamond jewellery seems to have increased by 30-35 percent on year on year basis, reports suggest

The jewellery makers using diamond and platinum are investing heavily in coming out with new designs, reflecting changing consumer taste, international trends and affordability. Even antique designs are being done in this segment, the survey noted.

One of the reasons jewellers losing interest in gold is a high level of policy regulation and tax issues like mandatory quoting of the Permanent Account Number of Income Tax, the traders in the precious metals said.

During Dhanteras the sales of gold and silver along with other metals is expected to pick up, though the mix and ratio among different precious metals may change. The share of platinum and diamond jewellery in the overall gold jewellery has increased significantly over the past one year.

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GSTN signs MoU with DGFT for sharing of foreign exchange realisation data
Oct 28,2016

The Goods and Services Network (GSTN) has signed a Memorandum of Understanding (MoU) with Director General of Foreign Trade (DGFT) for sharing of foreign exchange realisation and Import Export code data, a move that is expected to strengthen processing of export transactions of taxpayers under GST, increase transparency and reduce human interface.

The Memorandum of Understanding was signed by Shri Ajay K Bhalla, Director General of Foreign Trade and Shri Prakash Kumar, CEO, GSTN on 27 October 16. An electronic bank realisation certificate (eBRC) captures transaction level details of foreign exchange realised in India. The eBRC project implemented by DGFT created an integrated platform for receipt, processing and subsequent use of all Bank Realization related information by exporters, banks, central and state government departments. The e-BRC project enabled banks to upload foreign exchange realisation information related to exports on to the DGFT server under a secured protocol.

So far 100 banks operating in India, including foreign banks and cooperative banks have uploaded more than 1.9 Crore e-BRCs on to the DGFT server.

Sharing of data

1. eBRC data has proved to be a significant step in reducing the transaction cost of exporters. A Bank Realisation Certificate (BRC) is required for discharge of export obligation and claiming of incentives under Foreign Trade Policy. Its is also used by state government departments for refund of VAT. In addition, it is an important economic indicator as it quantifies transaction level export earnings.

2. DGFT has signed MOUs with 14 state governments and 2 central government agencies for sharing of the data.

3. At the state level, Commercial Tax Departments of 14 states have signed MoU with DGFT for receiving e-BRC data for VAT refund purposes. These are: (i) Maharashtra, (ii) Delhi, (iii) Andhra Pradesh,(iv) Odisha, (v) Chhattisgarh, (vi) Haryana, (vii) Tamil Nadu, (viii) Karnataka, (ix) Gujarat, (x) Uttar Pradesh, (xi) Madhya Pradesh, (xii) Kerala, (xiii) Goa, (xiv) Bihar.

In addition, Ministry of Finance, Enforcement Directorate and Agricultural & Processed Food Products Export Development Authority have signed MoU with DGFT for receiving e-BRC data.

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Cabinet approves Cadre Review of Indian Posts & Telecommunications Accounts and Finance Service Group n++An++
Oct 28,2016

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the first Cadre Review of Indian Posts & Telecommunications Accounts and Finance Service (IP&TAFS) with the following salient features:

(a) Reduction of the total strength of the cadre from 420 to 376.

(b) Creation of one Apex level post of Controller General of Communication Accounts (CGCA).

(c) Creation of one additional HAG+ level post taking the grade strength to 2.

(d) Creation of two additional HAG level posts taking the grade strength from 6 to 8.

(e) Creation of 18 additional SAG level posts taking the grade strength from 37 to 55.

(f) Reduction in JAG level posts from 111 to 90.

(g) Reduction in STS level posts from 198 to 86.

(h) Creation of 21 JTS level posts taking the grade strength from 67 to 88.

(i) Creation of 46 Posts to be operated as Reserves


Indian Posts & Telecommunications Accounts and Finance Service Group An++ was constituted in 1972 and caters to the Department of Telecommunications (DoT) and the Department of Posts (DoP).

In Department of Telecommunications, the IP&TAFS performs the functions of assessment and collection of license fee/ spectrum usage charges, spectrum auction, USO scheme monitoring and subsidy management, exchequer control, budgeting, accounting, pension disbursement, internal audit and finance advice. In the Department of Posts, the IP&TAFS is entrusted with the functions of finance advice, budgeting, tariff and costing, accounting and internal audit.

There has been a paradigm shift in the role of Department of Telecommunications as well as the Department of Posts in recent years. In the Telecom sector, the role of the Department of Telecommunications has transformed from primarily being a Service provider, Regulator and Policy maker into the present structure whereby the Department is primarily responsible for Policy making, Licensing and Universal Service Obligation. Receipts from Department of Telecommunications, primarily License Fee, Spectrum Usage Charges and Spectrum Auction Value constitute one of the largest source of non-tax revenue for the Government of India.

Similarly, the bundle of services offered by Department of Posts has undergone a quantitative and qualitative change and the Department has ventured into areas of retailing, banking, insurance, digitizing operations etc. Further, the audit mechanism in both the Departments needs to be strengthened.

These facts coupled with the stagnation in various grades of the service necessitated a review of the structure of IP&TAFS.

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Extension of the validity of Central Order regarding de-hoarding of sugar upto April 2017
Oct 28,2016

The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has given its approval for extending the validity of the existing Central Order in respect of Sugar for a further period of six months from 29 October 2016 to 28 April 2017.

The main objective of the decision is to enable the State Governments to issue control order with the prior concurrence of Central Government, for fixing stock limits/licensing requirements in respect of sugar, whenever need is felt by them. This is expected to help in the efforts being taken to improve the availability of these commodities to general public at reasonable rates, and control the tendencies of hoarding and profiteering.


The Cabinet in its meeting held on 27 April 2016, decided to enable the States to regulate supply, distribution, sale, production, stock, storage, purchase and movement etc. in respect of sugar for a period up to six months up to 28 October 2016. Accordingly, vide Notification No. GSR 1584(E) dated 29 April 2016, Department of Consumer Affairs issued the Removal of (Licensing requirements, Stock limits and Movement Restrictions) on specified Foodstuffs Amendment Order, 2016 for enabling the State Government to impose stock limits on sugar upto 28 October 2016. Subsequently, the said Order was merged with all the existing Orders in respect of essential commodities and a consolidated Order G.S.R. 929(E) dated 29th September 2016 was issued. It has been noticed that the average retail price of sugar has escalated in the recent past, in-spite of adequate availability of sugar stock with the mills. The price rise appears artificial as being mainly due to hoarding of sugar by traders/sugar dealers etc. Such situations in past were dealt with exercising the powers to regulate stock holding limits etc. for sugar. The validity of the current Order in respect of sugar is expiring on 28.10.2016 which caused the reason for further extension of the validity of Central Order GSR No. 929(E) dated 29 September 2016 in respect of sugar up to 28 April 2017.

The current decision will be notified by the Central Government and will be communicated to all the States/UTs. The States/UTs may exercise the powers and issue control orders with prior concurrence of the Central Government.

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Cabinet approves release of instalment of DA to Central Government employees and DR to Pensioners due from 01 July 2016
Oct 27,2016

The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has given its approval to release an instalment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to Pensioners w.e.f. 01 July 2016 representing an increase of 2% of the revised Basic Pay/Pension, to compensate for price rise. The increase is in accordance with the accepted formula, which is based on the recommendations of the 7th Central Pay Commission.

The combined impact on the exchequer on account of both Dearness Allowance and Dearness Relief would be Rs. 5622.10 crore per annum and in the Financial Year 2016-17 for the period of 8 months (i.e. from July 2016 to February 2017), it would be Rs.3748.06 crore. About 50.68 lakh Government employees and 54.24 lakh pensioners will be benefitted.

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