My Application Form Status

Check the status of your application form with Angel Broking.
Cabinet gives ex-post facto approval to the cadre review of Indian Postal Service (IPoS)
May 25,2016

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi today granted ex-post facto approval to the proposal for undertaking cadre review of the Indian Postal Service.

The cadre review will enable the Department of Posts to meet the functional requirements and strengthening the cadre structure both in the headquarters and in the field on the basis of functional requirement, which will provide more avenues to earn review and respond effectively to the customer needs, reduce the existing stagnation and improve the career prospects of Indian Postal Service officers.

The proposal will be implemented through measures that include creation of a post of DG(Postal Operations) in the Apex scale, creation of post of Additional DG(Coordination) in the HAG+ scale, one post in HAG level, 5 posts in SAG level and 4 posts at the JAG level, and also increase of 84 posts at JTS level by down-grading from STS and overall decreasing STS posts by 96 for adjustment of new posts proposed to be created, without any overall change in the total number of posts in the cadre.

For undertaking the above exercise, necessary consultations on the CRC recommendations with Ministry of Finance and the Ministry of Personnel, Public Grievances & Pensions have been duly completed. The Department of Expenditure have conveyed their no objection to the proposal.

Powered by Capital Market - Live News

Cabinet gives ex-post facto approval to MOU between India & Japan for promoting sustainable, stable & low-carbon thermal power development in India
May 25,2016

The Union Cabinet chaired by Prime Minister Shri Narendra Modi today granted ex-post facto approval to the MOU between India and Japan for promoting sustainable, stable and low-carbon thermal power development in India.

The signing of the MOU will help India to address issues and barriers in promoting sustainable, stable and low-carbon thermal power development that have been identified through the preceding Pre-Primary Study and the on-going cooperation towards Energy Efficient Renovation & Modernization as well as new power development, by means of diagnostic activities to support Renovation and Modernization (R&M) materialization and implementation, knowledge and technology exchange activities to support Clean Coal Technology (CCT) for thermal power plants such as Ultra Super Critical (USC) and other environmental technologies, all of which will be conducive to overall power development for India as well as to facilitate relevant policy implementation.

The proposal includes undertaking of activities like:

a. Update on the current and future policy trend in Indian power sector with wide coverage from R&M and Life Extension(LE) to new power development in India and consideration of the identified barriers to find out those which could be addressed through mutual collaboration by the Central Electricity Authority(CEA) and Japan Coal Energy Centre(JCOAL).

b. Identification of issues to be addressed regarding both existing and upcoming facilities, and also operation and maintenance at either of them.

c. Implementation of full-fledged diagnosis and/or other available and effective measures including Residual Life Assessment (RLA) and Conditional Assessment (CA) study with priorities on, but not limited to the target power stations under the Pre-Primary Study and the Cooperation. The number of target power station(s)/unit(s) will be decided through mutual consultation by CEA and JCOAL.

d. Consideration of justifiability and feasibility of individual cases of power development based on thermal power generation technologies in terms of funding from the existing financial instruments and/or other available bilateral financial schemes.

e. Consideration of possibilities for acquisition of carbon credits with bilateral/multilateral offset schemes that are anticipated to be materialized in the future upon consideration of financial side of individual cases of power development.

f. Implementation of an annual workshop in India and CCT Transfer Programme in Japan for bilateral knowledge and technology exchanges.

g. Hold an annual joint meeting attended by representatives of the Parties to discuss issues that have arisen or may arise in the course of implementation of the Project, in order to enhance the effect of the Project. Any relevant party/stakeholder may also attend the meeting as special invitees as agreed on by the Parties.

Powered by Capital Market - Live News

Cabinet gives ex-post facto approval to the Amendment to The Institutes of Technology Act, 1961 for incorporation of six new IITs
May 25,2016

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi today granted ex-post facto approval to the Amendment to The Institutes of Technology Act, 1961 for incorporation of six new IITs at Tirupati (AP), Palakkad (Kerala), Dharwar (Karnataka), Bhilai (Chhattisgarh), Goa, Jammu (J&K) and conversion of ISM, Dhanbad to an IIT under the Institutes of Technology Act, 1961

The approval will bring six new Indian Institutes of Technology within the ambit of The Institutes of Technology Act, 1961 and declaring them as the institutions of national importance. The above Amendment is also for conversion of ISM, Dhanbad into an IIT by bringing it into the ambit of the Institutes of Technology Act, 1961 and also declaring it as an institute of national importance.

Powered by Capital Market - Live News

MoU between Indian Space Research Organisation and the United Arab Emirates Space Agency
May 25,2016

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi was apprised of a Memorandum of Understanding (MoU) signed between Indian Space Research Organisation (ISRO) and the United Arab Emirates Space Agency (UAESA) for cooperation in the exploration and user of outer space for peaceful purposes.

The MoU would result in setting up a Joint Working Group with members from ISRO and UAESA, which will further work out the plan of action including the time-frame and the means of implementing this MoU.

Background:

Promoting space cooperation between India and UAE was highlighted during the visit of Prime Minister of India to UAE in August 2015 and also at the 11th meeting of India-UAE Joint Commission for Economic and Technical Cooperation held at New Delhi in September 2015. Subsequently, a delegation from UAESA visited ISRO technical facilities on September 16, 2015 and discussed on the avenues of building space cooperation including signing of a MoU. Accordingly, ISRO and UAESA, considering their mutual interest in expanding the applications of space technology for peaceful purposes signed a MoU in New Delhi on February 11, 2016.

Powered by Capital Market - Live News

Discovered Small Fields Bid Round-2016 launched
May 25,2016

In a bid to boost domestic oil and gas production, Ministry of Petroleum and Natural Gas (MoPNG), Government of India announced the commencement of the Discovered Small Fields Bid Round-2016. Shri Dharmendra Pradhan, Minister of State (I/C) for Petroleum and Natural Gas launched the new bidding round. The technical information portal and e-bidding portal were also launched.

Discovered Small Fields are oil and gas blocks which have so far remained commercially undeveloped, but are now in focus as the central government seeks to boost domestic hydrocarbon production. Under the announced Discovered Small Fields Bid Round-2016, 46 Contract Areas consisting of 67 different small fields are being offered to investors the world over, for exploration and production. Bids are being invited for developing and monetizing these contract areas having 625 Million Barrels of Oil and Oil Equivalent Gas (O+OEG) in-place volumes spread over 1500 square kilometers in Onland, Shallow water and Deepwater areas. Directorate General of Hydrocarbons (DGH), the technical arm of the Ministry, shall anchor the entire bidding process.

Speaking on the occasion, Shri Pradhan highlighted that India is now moving towards a new era of hydrocarbon production, driven by a forward looking Hydrocarbon Exploration and Licensing Policy (HELP); and a new fiscal model based on Revenue Sharing Contract. This new phase is a move ahead from the earlier NELP; and Production Sharing Contract regime and addresses various industry concerns that led to slowdown in investment over the last few years.

Single license for exploring all forms of hydrocarbons, graded system of royalty rates, pricing and marketing freedom for crude oil and natural gas, were some of the highlights of HELP mentioned by the Minister. He said that the Government is following principles of Enhancing Production, Attracting Investment, Generating Employment, Transparency, and Minimizing administrative discretion. Shri Pradhan said that a simpler and transparent administrative and fiscal system has been crated. Calling upon all industry stakeholders to participate in the bid rounds and be a part of new energy revolution in India, the Minister assured all support in endeavors.

Some of the other prominent and industry friendly features of the bidding round are:

n++ Single license to extract and exploit conventional and unconventional hydrocarbon fields

n++ New fiscal regime based on revenue sharing model

n++ Operational autonomy and flexibility for unit development in case of reservoirs extending beyond contract area or for joint development of common infrastructure

n++ Exemption of Oil Cess and Custom duty

n++ Full freedom for marketing and pricing for production from the awarded contract areas

n++ Royalty in line with earlier New Exploration Licensing Policy (NELP)

n++ Technical capability is not a pre-qualification criteria for bidding

n++ Exploration allowed during entire contract period (20 years), which is mutually extendable for up to 10 years

n++ No restriction on exploration activity during the contract period

n++ Information Docket to be made available at e-bidding gateway

n++ Physical Data Centers with Interpretation Facility would be set up in India and various others international locations where prospective bidders can access data

n++ User-friendly e-bidding Portal and interactive video for easy navigation to be made available to bidders.

n++ Discovered fields to be offered with no upfront signature bonus

Roadshows would be held at different parts of the country and international venues to attract maximum interest of prospective bidders for the Discovered Small Fields Bid Round-2016, and to encourage industry players to participate in the bid process.

Powered by Capital Market - Live News

Geosynthetics market to double over 2014-2020
May 25,2016

Given the life extension benefits and durability that geosynthetics provide, they are increasingly being deployed for road projects in regions with high soil erosion and those susceptible to the vagaries of climate change. This was stated by Mr Anand Kumar, IAS, Managing Director, NHIDCL, Ministry of Road Transport and Highways while speaking at the 2nd Global Geosynthetics Summit organized by the Confederation of Indian Industry (CII) with the theme of Enhancing Applications in Infrastructure.

According to Mr Kumar, for accelerating usage of Geosynthetics in road construction, the Ministry of Textiles is incentivizing their usage by providing a subsidy. Highlighting the manifold applications of Geosynthetics, he said there is need to sensitize on the advantages of its adoption and their positive impact from a lifecycle cost - benefit perspective. Other advantages, according to him, include enhanced efficiencies, quality and a reduced carbon footprint. He emphasized on indigenous development, constant research and continuous propagation of the material for its increased usage. While pointing to the need for specific standards for use of new technologies and a quick dispute resolution mechanism, he emphasized on the need of wider consultations and continuous dialogue between all stakeholders including users, contractors, vendors and policy makers.

While enumerating the numerous benefits of the adoption of Geosynthetics in construction and infrastructure projects, Mr Punit Lalbhai, Summit Chairman and Executive Director, Arvind, said that the Indian economy is poised for great development. Geosynthetics would be the key pillar in realizing the growth. The world over, Geosynthetics has played a key role in infrastructure development in countries. Geosynthetics, he pointed, are predominantly technical textiles with multiple applications in bridges, railways and roads. He opined that the need was for India to develop its own ability and capability to make best use of the huge underlying potential. In the Indian context, it lends improved quality, faster adoption, and lower life-cycle cost for all infrastructure development. He shared that CII had created a core group of industry, scientists and academia on Geosynthetics and emphasized on creating awareness of the technology among end users.

Mr Brian Schou Nielsen, Director, Fibertex, explaining the importance of Geosynthetics for the development of Indian Infrastructure, cited the global market to be growing at 4-5% per annum with India and China growing at 10%. With climate change and carbon footprints being a big challenge for India, Geosynthetics products offer sustainable solutions. With major growth within infrastructure projects-roads, railways and dams etc, he highlighted the factors hindering the growth of Geosynthetics, including lack of specified standards and awareness.

Mr M Madhav, Prof. Emeritus, Jawaharlal Nehru Technical University, Hyderabad, sharing that Geosynthetics had been existence since 1960 in Europe and highlighted the economic viability from a life cycle cost perspective.

Mr Vikramjeet Roy, Managing Director, Maccaferri Environmental Solutions in his concluding remarks emphasized on the advantages of Geosynthetics over conventional construction methods and called for further investments.

Powered by Capital Market - Live News

Infrastructure sector and the Pension Fund industry can meet each others needs and requirements: Chairman, PFRDA
May 25,2016

Infrastructure sector and the Pension Fund industry can match each others needs and requirements, said Mr Hemant G Contractor, Chairman, Pension Fund Regulatory & Development Authority (PFRDA). The infrastructure sector requires large volume and long term funds and the Pension fund industry has the similar funds available for investment, hence there has been a strong growth of the pension funds portfolio in the infrastructure sector, he added.

Infact, the pension fund industry contribution has been round 17-19 per cent annually and he was hopeful that this would increase steadily. As a regulating authority, PFRDA has laid down the guidelines for Indian pension funds to invest in listed funds and also venture into new bond instruments which will further increase the exposure to the infrastructure sector, added Mr Contractor.

Pointing out the non-availability of enough money in the system, Mr S B Nayar, Chairman & Managing Director, India Infrastructure Finance Company (IIFCL) suggested that the infrastructure finance companies require capitalisation as well as funding from multilateral institutions. Sops like income tax benefit should be given to the investors. Overseas money will only flow once the construction of the projects starts, explained Mr Nayar.

Mr K Mukundan, CEO, UTI Capital said that long-term pension funds and sovereign wealth funds are expressing interest in funding infra projects. The PPPs have not been successful because of aggressive bidding by the private parties. These players were considered as contractors, not partners, and were made to deal with the issues like land acquisition and environmental clearance on their own, he shared.

Funding crunch and deficit in structural contracts were the two pain points faced by the infrastructure projects said Mr Sidharath Kapur, President & CFO - Airports, GMR Group. Absence of Effective dispute resolution mechanism, structuring concession agreements which are bankable and regulatory certainty - absence of these are affecting growth and development of infrastructure, he added.

Powered by Capital Market - Live News

Government Puts on Hold Tighter Norms for Biotechnology Cotton Seed Companies
May 25,2016

The government puts on hold the notification which capped the trait fees or royalty and gave the government the right to fix the seed value on all new and advanced varieties of genetically modified (GM) cotton. This move which sought to further regulate the seed sector, if implemented was likely to dissuade investments in the agricultural biotechnology (Bt) sector, says India Ratings and Research (Ind-Ra). The notification dated 18 May 2016 has been withdrawn and placed as a draft for public consultation as of 23 May 2016.

The Ministry of Agriculture capped trait fees on all new and advanced varieties of genetically modified cotton at 10% of the seed price (fixed at INR800/packet) for five years, from the date of commercialisation. The seed price will now be fixed by the Central Government. Post five years, the royalties/trait fee will taper down each year by 10% of the initial trait value fixed as per the order dated 18 May 2016.

The government is determined to further regulate the Bt seed sector and striving to cap the royalty for new varieties of cotton seeds which are developed and sold by breeder companies in the Indian markets. While this is unlikely to impact the existing traits for cotton seeds which are marketed and sold in the country, Ind-Ra believes it is likely to dissuade investments in the agricultural Bt sector.

The notification also mentions that GM traits are expected to have a limited period of efficacy and those losing their efficacy will not be eligible for any trait value. Also the licensor (breeder) has to consider all applications seeking the license to obtain the GM trait and cannot deny licenses to any eligible seed company. Ind-Ra believes though this will create an environment of a level playing field among all seed companies under the fair, reasonable, and non-discriminatory licensing mechanism; it can impact the enforceability of the rights of the technology holder/licensor.

Earlier this year in March 2016, the Central Government issued a notification under the Cotton Seed Price (Control) Order, 2015 to regulate Bt cotton seed prices. It recommended a maximum sale price for Bt cotton seeds after considering the seed value, license fees including one-time and recurring royalty (trait value), trade margins and other government taxes. The price for Bt cotton seeds (for Bollgard II) was fixed at INR800/packet (1 packet contains 450g) while the trait fee was fixed at INR49/packet.

The Cotton Corporation of India in its annual report highlighted that during the cotton season 2014-15 the acreage under Bt cultivation reached 96% of the total acreage of around 12.97m hectares. Thus majority of the cotton acreage in India is catered to by Bt cotton and Monsanto Mahyco Biotech Limited (MMB) which is a joint venture between Maharashtra Hybrid Seeds Company Limiteds (Mahyco) and Monsanto Holdings is the largest provider of Bt technology for cotton seeds in India.

Ind-Ra had placed Mahyco on rating watch negative on account of the uncertainty associated with the quantum of future dividend income accruing from the joint venture MMB on account of the recent central government notification in March 2016 and also due to the uncertainty with regard to the extent of deleveraging possible over the short-to-medium term. Ind-Ra believes this may affect the turnover garnered by the JV and consequently the flow of dividend income accruing to Mahyco. In FY15, dividend income accounted for 24.9% of its total turnover (FY14: 17.3%). However this is unlikely to impact Mahycos EBIDTA margins.

Powered by Capital Market - Live News

Moodys: Tata Powers FY2016 results are in line with expectations
May 25,2016

Tata Power Companys (TPC, Ba3 stable) FY2016 results are within Moodys expectations and continues to support its Corporate Family Rating of Ba3.

For the fiscal year ending March 2016 (FY16), TPC reported a 10% increase in the consolidated EBITDA year-on-year (YoY), which was driven mainly by improved profitability of Coastal Gujarat Power (CGPL, unrated) -- TPCs 100% -owned subsidiary -- mainly due to a reduction in fuel expenses.

Tata Powers FY2016 results are in line with our expectations, with revenues growing by 7% year on year and with the improved performance of CGPL, says Abhishek Tyagi, a Moodys Vice President and Senior Analyst.

Tata Powers coal revenues declined by 5% year on year, on the back of a 1.7% reduction of total coal sold and a 13% reduction in coal realizations. The 11% year on year reduction in cash cost of mining helped cushion the impact of fall in coal prices during the year.

Based on Tata Powers FY2016 results, its credit metrics remain within the tolerance limits for its Ba3 ratings. For example, FFO interest coverage is around 1.8x compared to the tolerance range of 1.4-2x and Debt / book capitalisation as at 31 March 2016 is approximately 70%, which is within the tolerance range of 65-75%.

Over the next 12-18 months, Moodys expects Tata Powers financial position to remain stable.

Tata Power reversed an impairment of Rs 23 billion on its CGPL investment but at the same time accounted for an impairment loss of Rs 25 billion on its goodwill for coal mining investments made in Indonesia. These items have no material impact on the rating.

Tata Powers consolidated debt declined by 2% year on year to Rs401 billion in FY16.

The April 2016 judgment of Appellate Tribunal of Electricity (ATE) has allowed relief to CGPL under the Force Majeure clause as per its power purchase agreement (PPA) and supports Tata Powers rating.

ATE has directed the Central Electricity Regulatory Commission (CERC) to assess the extent of impact under the Force Majeure clause and to complete the process within next three months. However, it is also likely that that the state-owned distribution companies may appeal against the ATE judgment in the Supreme Court.

Powered by Capital Market - Live News

Moodys assigns Baa3 to Axis Banks proposed green bond
May 25,2016

Moodys Investors Service, (Moodys) has assigned a Baa3 rating to Axis Banks (Axis, Baa3, Positive) proposed USD denominated senior unsecured notes, issued under its US$5 billion Global Medium-Term Note (GMTN) program. The drawdown will be carried out from its Dubai International Financial Centre (DIFC) branch, and Axis will allocate the net proceeds from the sale of the notes for the financing of Eligible Green Projects as described in, and in accordance with, Axis Green Bond Framework. The bonds will have a maturity of 5 years and will be listed on the Singapore Stock Exchange and the London Stock Exchange.

The outlook on the rating, where applicable, is Positive.

The senior debt rating is subject to receipt of final documentation, the terms and conditions of which are not expected to change in any material way from the draft documents reviewed by Moodys.

RATINGS RATIONALE

The Baa3 foreign currency senior unsecured MTN debt rating is anchored on Axis baa3 baseline credit assessment (BCA).

Axis BCA of baa3 reflects our view of the banks solid commercial and retail banking franchise as the third-largest private-sector bank in India. Its asset quality is pressured by the challenging macro-economic conditions and exposure to weak corporates. However, Axis retains strong buffers to mitigate the impact. Its strong performance in core profitability and capital has been better than the average of the Indian banking system. This is in part due to its weighting towards the retail sector, which underpins its strong funding profile and wider net interest margin.

Powered by Capital Market - Live News

Centre committed to Employment Security , Wage Security and Social Security to every Worker:Shri Bandaru Dattatreya
May 25,2016

The Governments paramount priority is the Welfare of Workers and its endeavor is to achieve Employment Security, Wage Security and Social Security to every Worker especially the Unorganised workers who constitute 93% of our workforce. This was stated by Shri Bandaru Dattatreya, the Union Minister of State(IC) for Labour and Employment here today while addressing a Press Conference. The Minister said that during the last two years for the benefit of work force the Government has amended the Bonus Act increasing the eligibility limit from Rs. 10,000 to Rs. 21,000 and benefit ceiling from Rs. 3500 to Rs. 7000, Minimum Pension of Rs. 1000 per month in perpetuity which is benefiting more than 20 lakh pensioners. The Minister said, the Government has announced interest @ 8.8% to EPF subscribers for the year 2015-16 which is the highest rate of interest for any saving instrument in the country. Further, our Govt. on March, 29th, 2016 in a historic decision decided to credit interest to 9.23 Crore inoperative accounts of EPFO which was stopped by the UPA Government in February, 2011. A new and pragmatic scheme has been launched for eliminating the social evil of Bonded Labour he added.

He said ,the Ministry of Labour and Employment have initiated process of reforming the archaic labour laws to create a conducive, cordial and harmonious environment in the country. Towards this Ministry is simplifying the 43 Labour Laws into 4 Labour Codes which aims to amalgamate and rationalize the provisions of these 43 Labour Laws : These are Labour Code on Wages, Labour Code on Industrial Relations, Labour Code on Social Security & Welfare and Labour Code on Safety & Working Conditions.

To achieve this huge objective, tripartite consultations are held from time to time for consensus. Two of these codes have been finalized and necessary approvals are being sought, the Minister added.

On Reforms Through Technology ,The Minister said a unified Web Portal Shram Suvidha Portal was laubnched on 16 October 2014, to bring transparency and accountability in enforcement of labour laws and ease complexity of compliance. It caters to four major Organizations under the Ministry of Labour, namely Office of Chief Labour Commissioner (Central), Directorate General of Mines Safety, Employees Provident Fund Organization; and Employees State Insurance Corporation.

The Minister said eradication of Child Labour is a priority and to address the issue Government has proposed to amend the Child Labour (Prohibition & Regulation) Act, 1986 with the objective of complete prohibition on employment of children below 14 years and linking the age of prohibition with the age under Right of Children to Free & Compulsory Education, Act, 2009. The amendment also intends to make the punishment for employers more stringent and make the offence cognizable for employers on employing any child or adolescent in contravention of the Act.

The Minister said that the Government is implementing National Career Service (NCS) Project for transforming and strengthening the public employment services in the country with an aim to bring job seekers, employers and training providers on a common platform with efficient use of information technology. National Career Service (NCS) Project aims to address the gaps in the employment market by strategic interventions and partnership with leading institutions and organizations. Central Ministries and State Governments have also been involved in making the NCS Portal (www.ncs.gov.in) a vibrant platform.

The NCS Portal dedicated to the nation in July, 2015 has successfully registered over 3.5 crore candidates and all the 9 lakh establishments having a Labour Identification Number are also registered.

The Minister also spoke about two Social security organizations The Employees State Insurance Corporation providing comprehensive medical care and cash benefits in the contingencies of Sickness and Employees Provident Fund Organization providing social security to the organized workforce of the country.

Powered by Capital Market - Live News

Skymet expects the coming Monsoon to be above normal
May 24,2016

Skymet, Indias leading weather forecasting and agriculture risk solutions company has revised its Monsoon foreshadow for 2016. Skymet expects the coming Monsoon to be above normal. It has forecast the Monsoon at 109% (error margin of +/-4%) of the long period average (LPA) of 887 mm for the four-month period from June to September.

In terms of geographical risk, Skymet suggests that Tamil Nadu, Northeast India and South Interior Karnataka will be at moderate risk through June, July, August and September (JJAS). Good amounts of rainfall are expected in Central India and along the West coast. There may be excess rainfall in some pockets of Maharashtra and Madhya Pradesh. Some pockets of Bihar and East Uttar Pradesh could experience less rainfall. Second half of the Monsoon will see better rainfall than the first half. Post-Monsoon, the spell of good rainfall activities will spill over to October.

According to Jatin Singh, CEO, Skymet, n++The El Nin++o is tapering off and it will collapse after the onset of Monsoon. It is not likely to have an adverse impact on the Monsoon performancen++. There are more chances of getting into La-Nin++a in the later part of this year. Under the influence of the cyclone Roanu, Monsoon arrived before time over the Andaman and has also advanced further. Conditions are now favorable for its timely onset over Kerala.

According to Skymet, Monsoon probabilities for JJAS are:

25% chance of excess (seasonal rainfall that is more than 110% of LPA)

37% chance of above normal (seasonal rainfall that is between 105 to 110% of LPA)

30% chance of normal (seasonal rainfall that is between 96 to 104% of LPA)

5% chance of below normal (seasonal rainfall that is between 90 to 95% of LPA)

3% chance of drought (seasonal rainfall that is less than 90% of LPA)

On a monthly scale, the precipitation foreshadow is as follows:

June - 87% of LPA (LPA = 164 mm)

50% chance of normal

20% chance of above normal

30% chance of below normal

July - 108% of LPA (LPA = 289 mm)

60% chance of normal

25% chance of above normal

15% chance of below normal

August - 113% of LPA (LPA = 261 mm)

60% chance of normal

30% chance of above normal

10% chance of below normal

September - 123% of LPA (LPA = 173 mm)

40% chance of normal

50% chance of above normal

10% chance of below normal

Impact on Agriculture

In the year 2016, the total area under kharif food grains is expected to increase by 15 to 20% over last year. Accordingly, the kharif food grains production is expected to be around 129 to 130 million tonnes.

In 2016, area under oilseeds including soybean, groundnut, pulses (tur, moong and urad) and rice may increase. Area under cotton may reduce marginally while total agricultural land under sugarcane may remain the same as previous year. Area under cotton may reduce marginally however its production is expected to be better.

Powered by Capital Market - Live News

Ministry of Railways to Launch RAIL HAMSAFAR SAPTAAH - a Week Long Celebration to Highlight Railway Achievements During The Last Two Years
May 24,2016

On 25th May, 2016 Union Government shall be completing two years. During this period a number of initiatives have been launched and significant achievements made by Indian Railways in all spheres, especially in its responsiveness, accessibility and improvement of passenger amenities.

Ministry of Railways has decided to undertake a week long RAIL HAMSAFAR SAPTAAH from 26th May to 1st June, 2016. Each day of the week will focus on a particular theme and hence the days have been named as 26th May-Swachchta Diwas, 27th May-Satkar Diwas, 28th May-Sewa Diwas, 29th May-Satarkata Diwas, 30th May-Saamanjasya Diwas, 31st May-Sanyojan Diwas and 1st June-Sanchaar Diwas. Minister of Railways Shri Suresh Prabhakar Prabhu has directed that all the General Managers should personally supervise various activities to be undertaken during the week as given below:

(1) All Zonal Railways would ensure that various passenger amenities works nearing completion would be commissioned during this week. A list of such works would be submitted to the Railway Board by 25th May.

(2) On 26th May, (Swachchta Diwas) all out efforts would be made to undertake Intensive Cleanliness Drive on all the Stations and in Trains. All stations of Indian railways on that day would be inspected by an officer including GMs and DRMs who will be supervising the cleanliness drive with the help of railway staff, NGOs, staff associations, scouts & guides, etc.

(3) On 27th May (Satkaar Diwas) officers would be deputed to inspect All catering establishments and Drinking water facilities at stations and in trains to ensure that all the trains having pantry cars are inspected and catering units at stations are checked.

It would also be ensured that all the catering establishments are improved to the desired standards with complete display of rate list of items being sold, cleanliness and up-keep and maintenances of these catering units and pantry cars. Strict action would be taken against defaulters

(4) On 28th May (Sewa Diwas) each train, other than sub-urban commuting trains, would be monitored by an officer between 1000 to 1600 hrs. These nominated officers would travel by these trains and interact with passengers in all classes and ensure that amenities, as required, are provided and grievances are redressed. All trains would have an officer travelling. On this day a review of all public grievances, including social media, and other complaints/suggestions being received by the Divisions and Zonal Railway Headquarters would be analysed at the level of DRMs and GMs and remedial action and redressal would be done in most cases on that day itself.

(5) On 29th May Punctuality (Satarkata Diwas) and Ticket Checking drive would be undertaken across the Zonal Railways. This drive shall include ensuring 100% punctuality of mail/express & passenger trains, foot-plating of all mail/express trains and intensive Ticket Checking drive at major stations and in trains by, not only commercial staff, but also other railway staff duly authorized from other departments with adequate help from Vigilance, RPF and GRP staff.

(6) On 30th May (Saamanjasya Diwas) a day long exercise would be undertaken on all Divisions and Zonal Railway HQs wherein teams of concerned officers would inspect all railway staff colonies along with representatives of recognized unions to undertake cleanliness drive in the colonies and also for their upkeep and maintenance. On this day each Zonal Railways would undertake plantation of at least 1000 trees on each Division especially in the railway colonies and other premises. During this exercise railway employees and their families would be encouraged to participate and special sports events would be organized for railway employees and their families in the Divisional Stadiums. DRMs and GMs and other officers would hold meetings with employees in different depots and work places to listen their grievances and take on the spot remedial actions.

(7) On 31st May (Sanyojan Diwas) all DRMs and GMs would hold meetings and seminars with all Major Freight Traffic Customers to advise them about the various reforms and policy initiatives on the freight traffic side and to ask them to improve rail transportation, obtaining commitments from various industries to improve rail transportation to achieve the targets given to Zonal Railways. In these meetings various issues pertaining to individual industry/customer would be addressed and sorted out by the DRMs and GMs within a given time frame of 15 days.

(8) On 15t June (Sanchaar Diwas) all DRMs and GMs would review various activities under taken during the week and may hold Press Conferences in the afternoon to disseminate information about Indian Railways various achievements during the last two years and also various actions taken by them on their Divisions and Zones. All the above mentioned activities shall not remain confined to the days mentioned but throughout the week.

Member (Traffic) Shri Mohd. Jamshed shall be the Nodal Member.

CRB and Board Members may also be visiting and participating in these activities as per their programmes.

Powered by Capital Market - Live News

Bread makers were using only permissible chemicals; let us stop scare mongering: ASSOCHAM
May 24,2016

While the report by the Centre for Science and Environment (CSE) has caused a panic among the consumers resulting in plummeting of sale of bread and bakery products, the use of potassium bromate, purported to be harmful to health, was being done with the permission and full knowledge of the food regulator, the ASSOCHAM said.

n++The industry will surely be at fault if it was using the PM in violation of the FSSAI rules. If at all, there is a problem, it does not lie at the door of the industry, which only would be put to immense loss of consumer confidence and crores of rupees worth of loss. Already, reports suggest a sharp fall in the sale of morning breads and a sense of panic among the homemakers,n++ ASSOCHAM Secretary General Mr D S Rawat said.

Mr Rawat said the ASSOCHAM is all for adoption of internationally accepted food standards. If at all, the problem is detected, the first contact point for the NGOs and independent organisations should be the government agencies, regulators both at the Centre and state levels.

n++But an impression has been created as if the entire lot of bread manufacturers are deliberately causing risk to the public health. A similar thing had happened in the case of Maggi noodles which finally returned to the market after an effective court intervention, but not without several hundreds of crores of rupees of loss to the manufacturersn++.

The ASSOCHAM said if India has to scale up its food processing industry , it cannot be left to scare-mongering by NGOs. n++The NGOs are free to be watch dogs, but they must realise that their reports and findings should not be targeted only at the industryn++.While the government is trying to move towards of ease of doing business by relaxing the inspector raj, the NGO policing may harm many timesn++.

Mr Rawat said, the Health Ministry and the FSSAI should immediately come out with a clarification on the bread controversy. If need be, the manufacturers should also engage with the regulators and consumers giving them confidence. n++Or else, immense loss of goodwill and financial loss would be caused. As it is, the stock prices of the food companies have come under pressure out of panicn++.

Powered by Capital Market - Live News

India signs loan agreement with world bank for IBRD loan of US$ 100 million for Karnataka Urban Water Supply Modernization project
May 24,2016

The Loan and Project Agreements for World Bank (IBRD) assistance of US$ 100 million for the Karnataka Urban Water Supply Modernization project were signed between Government of India/Government of Karnataka and the World Bank here today.

The Loan Agreement was signed by Shri Raj Kumar, Joint Secretary, Department of Economic Affairs on behalf of the Government of India and Mr. Michael Haney, Acting Country Director, World Bank (India) on behalf of the World Bank. The Project Agreement was signed by Shri V. Ponnuraj, Managing Director, Karnataka Urban Infrastructure Development & Finance Corporation (KUIDFC) on behalf of the Government of Karnataka. Mr. Michael Haney signed the Project Agreement on behalf of the World Bank. The objective of the project is to provide city-wide access to a continuous piped water supply in the eligible cities in the State of Karnataka and to strengthen the service delivery arrangements at the city level. KUIDFC is the implementing agency for the project.The project would have four broad components: (i) Capital Investment Program; (ii) Institution Building; (iii) Technical Assistance for Sector Development; and (iv) Project Management. The project will be implemented over a period of six years, initially in the twin cities of Hubballi-Dharwad, with provision for other eligible cities to join the project at a later date. Under the project, the Hubballi Dharwad Municipal Corporation has hired a professional water supply operating company for improving the water supply system, as also to manage the refurbished system through a 12-year contract in accordance with strict performance criteria. The municipality will retain ownership of the water supply assets and control of the service delivery set up. The project will help the Hubballi-Dharwad Municipal Corporation set up a city-level water utility that will take over water supply operations from the professional operating company at the end of its contract period. The project will benefit about one million residents of the Hubballi- Dharwad, including estimated 160,000 slum dwellers.

Powered by Capital Market - Live News