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WPI inflation eases to 3.2% in November 2016
Dec 14,2016

The Wholesale Price Index (WPI)-based inflation eased for the third straight month to 3.2% in November 2016 from 3.4% in October 2016. The decline in WPI inflation was entirely driven by a dip in inflation for primary articles, while fuel and power and manufactured products group inflation continued to rise in November 2016. Further, the unfavourable base effect restricted sharp decline in inflation in November 2016.

Inflation of primary articles dipped to 1.2% in November 2016 from 3.3% in October 2016. The inflation for manufactured products rose to 3.2% in November 2016. Further, the inflation for fuel items accelerated further to 7.1% in November 2016 from 6.2% in October 2016.

As per major commodity group-wise, inflation eased for fruits, vegetables, egg, fish, spices, fibres, oilseeds, flowers, edible oils, oilcakes, tea, beverages and tobacco products, wood and products, non-metallic mineral products and automotives in November 2016. On the other hand, inflation of foodgrains, coffee, sugarcane, iron ore, crude petroleum, mineral oils, grain mill products, sugar, textiles, paper products, leather products, rubber products, chemical products, and basic metals rose in November 2016.

Inflation of food items (food articles and food products) eased to 4.4% in November 2016 from 6.3% in October 2016. Meanwhile, inflation of non-food items (all commodities excluding food items) moved up to 2.6% in November 2016 from 2.1% in October 2016.

Core inflation (manufactured products excluding foods products) rose to 24-months high of 1.5% in November 2016 from 1.1% in October 2016.

The contribution of primary articles to the overall inflation, at 3.15%, was 36 basis points (bps) in November 2016 compared with 96 bps in October 2016. The contribution of manufactured products was 179 bps compared with 151 bps, while that of fuel product group was 106 bps against 92 bps in October 2016.

The contribution of food items (food articles and food products) to inflation fell to 140 bps in 3.39% in November 2016 compared with 197 bps to 3.39% in October 2016. Meanwhile, the contribution of non-food items (all commodities excluding food items) was 179 bps in November 2016 compared with 144 bps in October 2016.

As per the revised data, the inflation figure for September 2016 was revised up to 3.8% compared with 3.6% reported provisionally.

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Indias current account deficit at 0.6% of GDP in Q2 of 2016-17
Dec 14,2016

Indias current account deficit (CAD) at US$ 3.4 billion (0.6% of GDP) in Q2 of 2016-17 was lower than US$ 8.5 billion (1.7% of GDP) in Q2 of 2015-16 but higher than US$ 0.3 billion (0.1% of GDP) in the preceding quarter.

The contraction in the CAD on a year-on-year (y-o-y) basis was primarily on account of a lower trade deficit (US$25.6 billion) brought about by a larger decline in merchandise imports relative to exports.

Net services receipts moderated on y-o-y basis, primarily owing to the fall in earnings from software, financial services and charges for intellectual property rights.

Private transfer receipts, mainly representing remittances by Indians employed overseas, amounted to US$ 15.2 billion, having declined by 10.7% from their level a year ago.

In the financial account, net inflows of both foreign direct investment and portfolio investment were significantly higher in Q2 on a y-o-y basis.

Non-resident Indian (NRI) deposits declined to US$ 2.1 billion in Q2 of 2016-17 from US$ 4.2 billion in Q2 of 2015-16.

Net loans availed by banks witnessed a net repayment of US$ 9.0 billion in Q2 of 2016-17 as against net borrowing of US$ 3.1 billion in Q2 of 2015-16.

In Q2 of 2016-17, foreign exchange reserves (on BoP basis) increased by US$ 8.5 billion as against a decline of US$ 0.9 billion in Q2 of last year.

BoP during April-September 2016 (H1 of 2016-17)

On a cumulative basis, the CAD narrowed to 0.3% of GDP in H1 of 2016-17 from 1.5% in H1 of 2015-16 on the back of the contraction in the trade deficit.

Indias trade deficit narrowed to US$ 49.5 billion in H1 of 2016-17 from US$ 71.3 billion in H1 of 2015-16.

Net invisible receipts were lower, mainly due to moderation in software exports and private transfers and higher outgo on account of primary income (profit, interest and dividends).

Net FDI inflows during H1 of 2016-17 rose by more than 28.8% over the level during the corresponding period of the previous year.

Portfolio investment recorded a net inflow of US$ 8.2 billion during H1 as against a net outflow of US$ 3.5 billion a year ago.

In H1 of 2016-17, there was an accretion of US$ 15.5 billion to foreign exchange reserves.

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CPI inflation dips to 24-months low of 3.6% in November 2016
Dec 13,2016

The all-India general CPI inflation dipped to 24-months low of 3.63% in November 2016 (new base 2012=100), compared with 4.20% in October 2016. The corresponding provisional inflation rate for rural area was 4.13% and urban area 3.05% in November 2016 as against 4.78% and 3.54% in October 2016. The core CPI inflation was nearly flat 4.90% in November 2016 from 4.86% in October 2016.

The cumulative CPI inflation rose to 5.03% in April-November 2016 compared with 4.69% in April-November 2015.

Among the CPI components, inflation of food and beverages declined to 2.56% in November 2016 from 3.71% in October 2016 contributing to the fall in CPI inflation. Within the food items, the inflation eased for vegetables to (-) 10.29%, pulses and products 0.23%, oils and fats 2.70%, spices 6.48% and meat and fish 5.83%. The inflation also eased for prepared meals, snacks, sweets etc 5.82%, sugar and confectionery to 22.40% and non-alcoholic beverages 3.70%. On the other hand, inflation moved up for milk and products 4.57% and Cereals and products 4.86% in November 2016.

The inflation for housing eased to 5.04%, while that for miscellaneous items inched up to 4.83% in November 2016. Within the miscellaneous items, the inflation for Transport and communication rose to 3.77%, and Personal care and effects 7.73%, while eased for Household goods and services to 4.21% and Health 4.55% in November 2016.

The inflation for clothing and footwear was flat at 4.98% in November 2016, while the CPI inflation of fuel and light eased to 2.80% in November 2016.

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ADB scales down Indias growth forecast to 7% for 2016
Dec 13,2016

Economic growth in developing Asia remains broadly stable, but a slight slowdown in India has trimmed the regions growth outlook for 2016, says a new Asian Development Bank (ADB) report. In a supplement to its Asian Development Outlook 2016 Update report, ADB has downgraded 2016 growth to 5.6%, below its previous projection of 5.7%. For 2017, growth remains unchanged at 5.7%.

Asian economies continue their robust expansion in the face of global economic uncertainties, said ADB Deputy Chief Economist Juzhong Zhuang. Structural reforms to boost productivity, improve investment climate, and support domestic demand can help maintain growth momentum into the future.

Combined growth for the major industrial economies exceeded expectations in the Update, ticking up 0.1 percentage point to 1.5% in 2016. Growth in 2017 is maintained at 1.8%. Robust consumer spending supported the US economy, with supportive monetary policy and improved labor markets fueling growth in the euro area. Japans expansion, meanwhile, will be buoyed by strong exports, despite the stronger local currency.

ADB has downgraded the forecast in South Asia from 6.9% to 6.6% in 2016. Growth will bounce back in 2017, reaching 7.3%. Indias tempered growth projection to 7.0% from the previously forecasted 7.4% in 2016 is due to weak investments, a slowdown in the countrys agriculture sector, and the lack of available cash due to the governments decision to ban high-denomination banknotes. This will likely affect largely cash-based sectors in the country including small- and medium-scale businesses. The effects of the transition are expected to be short-lived and the Indian economy is expected to grow at 7.8% in 2017.

The forecast in East Asia is maintained for 2016 and 2017. Growth this year will reach 5.8%, with a slight moderation to 5.6% in 2017. Growth in the Peoples Republic of China (PRC) - the worlds second largest economy - is expected to hit 6.6% this year, driven by strong domestic consumption, solid wage growth, urban job creation, and public infrastructure investment. The forecast for the PRC in 2017 is maintained at 6.4%.

In Southeast Asia, growth forecasts remain unchanged at 4.5% in 2016 and 4.6% in 2017, with Malaysia and the Philippines expecting stronger growth due to a surge in domestic consumption and public and private investment, compared to lower growth forecasts in Brunei Darussalam, Myanmar, and Singapore.

The outlook in Central Asia is maintained at 1.5% in 2016 and 2.6% in 2017, as the ongoing recession in the Russian Federation and low global commodity prices for oil and natural gas continue to dampen growth in the subregion.

The Pacific will see growth of 2.7% in 2016, picking up to 3.3% in 2017. The fiscal contraction in Papua New Guinea - the Pacifics largest economy - and recovery from recent cyclones have weighed on growth in the subregion. While cyclone damage in Fiji has had a bigger impact on its growth outlook than previously envisaged, prospects for Samoa, Kiribati, and Tuvalu are improving through improvements in fisheries, infrastructure, and tourism.

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Rabi crops sowing crosses 472 lakh hectares
Dec 09,2016

As per preliminary reports received from the States, the total area sown under Rabi crops as on 09 December 2016 stands at 472.43 lakh hectares as compared to 438.90 lakh hectare this time in 2015.

Wheat has been sown/transplanted in 225.63 lakh hectares as on 09 December 2016 compared with 202.28 lakh hectares sown same time of last year. The area under pulses crops was higher at 121.74 lakh hectares against 110.80 lakh hectares a year ago. The area under oilseeds crops has also moved up to 72.23 lakh hectares against 65.71 lakh hectares.

However, the area under rice was lower at 8.00 lakh hectares as on 09 December 2016 compared with 10.98 lakh hectares sown same time last year. The coarse cereals crops have also exhibited lower coverage of 44.83 lakh hectares compared with the last years coverage of 49.13 lakh hectares.

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Direct tax collections rise 15.1% in April- November 2016
Dec 09,2016

The figures for direct tax collections up to November 2016 show that net collections are at Rs 4.12 lakh crore which is 15.12% more than the net collections for the corresponding period last year. Till November 2016, 48.67% of the Budget Estimates of direct taxes for FY 2016-17 has been achieved.

As regards the growth rates for Corporate Income Tax (CIT) and Personal Income Tax (PIT), in terms of gross revenue collections, the growth rate under CIT is 11.22% while that under PIT (including STT) is 22.41%. However, after adjusting for refunds, the net growth in CIT collections is 8.75% while that in PIT collections is 23.89%. Refunds amounting to Rs 105561 crore have been issued during April-November, 2016, which is 17.35% higher than the refunds issued during the corresponding period last year

The figures for indirect tax collections (Central Excise, Service Tax and Customs) up to November 2016 show that net revenue collections are at Rs 5.52 lakh crore, which is 26.2% more than the net collections for the corresponding period last year. Till November 2016, 71.1% of the Budget Estimates of indirect taxes for Financial Year 2016-17 has been achieved.

As regards Central Excise, net tax collections stood at Rs 2.43 lakh crore during April-November, 2016 as compared to Rs.1.69 lakh crore during the corresponding period in the previous Financial Year, thereby registering a growth of 43.5%.

Net Tax collections on account of Service Tax during April-November, 2016 stood at Rs 1.60 lakh crore as compared to Rs.1.27 lakh crore during the corresponding period in the previous Financial Year, thereby registering a growth of 25.7%.

Net Tax collections on account of Customs during April-November 2016 stood at Rs 1.48 lakh crore as compared to Rs 1.40 lakh crore during the same period in the previous Financial Year, thereby registering a growth of 5.6%.

During November 2016, the net indirect tax (with ARM) grew at the rate of 23.1% compared to corresponding month last year. The growth rate in net collection for Customs, Central Excise and Service Tax was 16.1%, 33.7% and 15.5% respectively during the month of November, 2016, compared to the corresponding month last year. However, the total indirect tax collection (with ARM) for the month of November 2016 showed a decline of 13.9% over October 2016 figures.

The net indirect tax collection up-to November, 2016 shows a growth of 26.2% (with ARM) and 8.0% (without ARM) over the corresponding period of previous year. This growth rate up-to October, 2016 was 26.7% (with ARM) and 8.0 % (without ARM).

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Indias industrial production declines 1.9% in October 2016
Dec 09,2016

Indias industrial production declined 1.9% in October 2016 over October 2015, against strong 9.9% growth recorded in October 2016. The manufacturing sectors production declined 2.4%, while mining output also fell 1.1%, contributing to the decline in industrial production. However, electricity generation rose at moderate pace of 1.1% in October 2016.

The growth of IIP and the manufacturing sector continued to be affected by the sharp plunge in output of rubber- insulated cables (that carry a marginal weight in the IIP), excluding which the IIP grew 2% in October 2016.

As per the use-based classification, the basic goods output improved 4.1% in October 2016 over a year ago, while the output of intermediate goods moved up 2.9%. However, the consumer goods output declined 1.6%, while that of capital goods continued to record sharp decline of 25.9% in October 2016. Within consumer goods, the production of consumer durables rose 0.2%, while that of consumer non-durables declined 3% in October 2016.

The IIP growth in September 2016 has been revised marginally downwards to 0.67% in the first revision compared with 0.73% reported provisionally. Meanwhile, the growth in June 2016 has also been revised marginally downwards to (-) 2.55% at the final revision from first revision of (-) 2.49% and (-) 2.44% reported provisionally.

In terms of industries, twelve out of the twenty two industry groups in the manufacturing sector have shown negative growth during the month of October 2016 as compared to the corresponding month of the previous year. The industry group Electrical machinery & apparatus has shown the highest negative growth of (-) 58.3% followed by (-) 29.5% in Office, accounting and computing machinery and (-) 12.3% in Wood and products of wood & cork except furniture; articles of straw & plating materials.

On the other hand, Coke, refined petroleum products & nuclear fuel has shown the highest positive growth of 18.4% followed by 7.9% in Motor vehicles, trailers & semi-trailers and 7.7% in Basic metals.

Some important items showing high negative growth during the current month over the same month in previous year include Cable, Rubber Insulated (-) 92.9%, H R Sheets (-) 44.1%, Woollen Carpets (-) 41.9%, Sugar Machinery (-) 36.4%, Leather Garments (-) 29.0%, Kerosene (-) 27.0%, Boilers (-) 23.8% and Aluminium wires and extrusions (-) 21.3% .

Some important items that have registered high positive growth include Ship building and repairs (87.5%), Electric Sheets (72.7%), Aviation Turbine Fuel (54.4%), H R Coils/ Skelp (48.6%), Plastic Machinery including Moulding Machinery (48.0%), Furnace Oil (44.7%), Instant Food Mixes (Ready to eat) (40.4%), Petroleum Coke (28.8%), Naphtha (27.2%), Liquid Petroleum Gas (22.3%) and Petrol (22.2%).

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M-74 projects supported by NMPB over last 3 years for conducting training programmes on medicinal plants
Dec 09,2016

Fromtime to time, the National Medicinal Plants Board (NMPB),   Ministry of AYUSH under its Central Sector Scheme organizes training programmes, workshops, seminars etc. for farmers, entrepreneurs for cultivation/production, processing and marketing of herbs/medicinal plants through its Facilitation Centers in different states of the country. During the last three years a total of 35 such training programmes/workshops/ Stakeholder meets were supported through these Facilitation Centers of NMPB.  In addition, during the last three years, the NMPB under its Central Sector Scheme has also supported 74 projects in different states for conducting training programmes/ workshops / seminars etc. on various aspects of medicinal plants / herbs. During the last three years, to support above training programmes/ activities, the NMPB has released a total of ₹ 443.66 Lakh under its Central Sector Scheme.

 During the last three years the amount of grant/fund allocated for production/ cultivation of herbs/medicinal plants under NMPB, Ministry of AYUSHs Centrally Sponsored Scheme of National Mission on Medicinal Plants(NMMP) and National AYUSH Mission (NAM) scheme is as below: 

Name of the SchemeFinancial YearFund Allocated

(Rs. in Lakh)

Centrally Sponsored Scheme of National Mission on Medicinal Plants (NMMP)2013-147381.95

2014-15

7313.88Centrally Sponsored Scheme of National AYUSH Mission (NAM)2015-162779.82

The NMPB, Ministry of AYUSH through Quality Council of India (QCI) has designed a Scheme titled Voluntary Certification Scheme for Medicinal Plants Produce (VCSMPP) based on Good Agricultural Practices (GAPs) and Good Field Collection Practices (GFCPs) of medicinal plants.

To effectively implement the scheme and its better acceptability, understanding by farmers, collectors and traders of the medicinal plants, the NMPB is planning strategies along with QCI. In addition, the NMPB has also conducted a meeting with the Manufactures of herbal products/ASU&H Drug Manufacturing Associations in the country and explained them the scheme.

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M,74 projects supported by NMPB over last 3 years for conducting training programmes on medicinal plants
Dec 09,2016

Fromtime to time, the National Medicinal Plants Board (NMPB),   Ministry of AYUSH under its Central Sector Scheme organizes training programmes, workshops, seminars etc. for farmers, entrepreneurs for cultivation/production, processing and marketing of herbs/medicinal plants through its Facilitation Centers in different states of the country. During the last three years a total of 35 such training programmes/workshops/ Stakeholder meets were supported through these Facilitation Centers of NMPB.  In addition, during the last three years, the NMPB under its Central Sector Scheme has also supported 74 projects in different states for conducting trainingprogrammes/ workshops / seminars etc. on various aspects of medicinal plants / herbs. During the last three years, to support above training programmes/ activities, the NMPB has released a total of ₹ 443.66 Lakh under its Central Sector Scheme.

 During the last three years the amount of grant/fund allocated for production/ cultivation of herbs/medicinal plants under NMPB, Ministry of AYUSHs Centrally Sponsored Scheme of National Mission on Medicinal Plants(NMMP) and National AYUSH Mission (NAM) scheme is as below: 

Name of the SchemeFinancial YearFund Allocated

(Rs. in Lakh)

Centrally Sponsored Scheme of National Mission on Medicinal Plants (NMMP)2013-147381.952014-157313.88Centrally Sponsored Scheme of National AYUSH Mission (NAM)2015-162779.82

The NMPB, Ministry of AYUSH through Quality Council of India (QCI) has designed a Scheme titled Voluntary Certification Scheme for Medicinal Plants Produce (VCSMPP) based on Good Agricultural Practices (GAPs) and Good Field Collection Practices (GFCPs) of medicinal plants.

To effectively implement the scheme and its better acceptability, understanding by farmers, collectors and traders of the medicinal plants, the NMPB is planning strategies along with QCI. In addition, the NMPB has also conducted a meeting with the Manufactures of herbal products/ASU&H Drug Manufacturing Associations in the country and explained them the scheme.

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More than 3 lakh Formulations from the texts of AYUSH System have been digitalized under TKDL: Shri ShripadYesso Naik
Dec 09,2016

As per the information provided by Department of Industrial Policy & Promotion (DIPP), 204 Patents have since been granted on formulations/ processes/ products of herbs / plants. DIPP has further stated that Patents are issued on inventions that satisfy the patentability criteria as laid out in the Patents Act, 1970. As per the Patents Act 1970 (as amended), patents can be imparted only to new formulations based on products related to herbs/ plants or processes related thereto, which are not in public domain and fulfill the criteria of patentability.

The Drugs and Cosmetics Act 1940 and Rules 1945, does not have any provision for registration of Ayurvedic formulations. To protect Traditional Medicinal Knowledge of India, the Ministry of AYUSH has created Traditional Knowledge Digital Library (TKDL) in collaboration with Council for Scientific & Industrial Research (CSIR) for digitalization of traditional medicinal knowledge. More than 3 lakh formulations from the texts of Ayurveda, Unani and Siddha Systems have been digitalized till date under TKDL to protect Traditional Knowledge from misappropriation by providing defensive protection.

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Quantity of wastage of foodgrains in FCI reduce to 3115 tons in 2015-16
Dec 09,2016

Quantity of foodgrains accrued as damaged/non issuable in Food Corporation of India (FCI) during last three years is given below: YearQuantity in tons2013-1424695.4552014-1518847.2262015-163115.684

Government has enough stocks of foodgrains to meet the demands of the Public Distribution System (PDS) and other welfare schemes. Stock position of foodgrains in Central Pool against the Stocking Norms as on 01.10.2016 is given below:
Figure in lakh tons

CommodityStocking Norms as onn++ 01.10.2016Stock in Central Pool as on 01.10.2016Stock of foodgrains over and above Stocking NormsWheat195.20213.2818.08Rice112.50158.7246.22

Scientifically constructed godowns provide adequate protection and are used for storage of Central Pool foodgrains. As on 31.10.2016, total 782.99 lakh ton capacity (including State Government/agencies capacity) is available for storage of Central Pool foodgrains. There are already standing instructions for preservation of foodgrains in godowns holding Central foodgrain stocks.

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CEM legislation to come soon: Secretary, Department of Heavy industries
Dec 09,2016

Construction Equipment Manufacturing (CEM) legislation to come soon stated Girish Shankar, Secretary, Department of Heavy Industry, the bill will concern regulations for construction equipment which are not wheeled and use of spurious parts, which though cheap, is detrimental to the equipment said at an ASSOCHAM event.

The Industry has to gear up for better quality and adoption of right technology. The government is setting up the experience centre for advanced manufacturing as 4.0 industrial revolutions is already there, said Mr. Shankar.

n++Industry has conveyed to us the problems in leasing, particularly that of multiple taxationn++. We assure that our department will take up your case with the Finance Ministry, said Mr. Shankar.

India has emerged as one of the most attractive destinations for leading global investors with over 7% real GDP growth. The government is laying emphasis to achieve double digit growth, by following proactive, holistic and integrated approach, said Mr. Shankar.

He further said, Construction sector has an important place in the Indian economy. It is the second largest contributor to economic activity accounting for about 8% of GDP. It accounts for the second highest inflow of FDI after the service sector. It generates the highest level of direct and indirect jobs employing about 40 million people and creating 2.7 new jobs indirectly for every Rs 1.00 lakh invested. The sector has major forward (infrastructure, real estate, manufacturing) and backward (steel, cement etc) linkages, implying a high multiplier effect on economic growth, almost two times.

The demand for construction services is expected to rise manifolds due to several factors like massive expansion of the infrastructure sector, industrialisation, urbanisation rise in disposable incomes and various government, added Mr. Shankar. In the next three years we are going to invest around 1 trillion US$ in infrastructure sector.

n++We have planned to build 50 million houses by 2022. In addition, we are developing smart cities and mega industrial corridors. We are also modernising our railway systems including signals, engines and railway stations. We are planning metro rail in 50 cities and high speed trains in various corridorsn++.

Similarly, we have planned to construct on an average 15 km of National Highways every day. We are putting up new ports and modernising the old ones through and ambitious plan called Sagarmala.

The focus is on upgrading the existing airports and putting up regional airport to enhance connectivity to places of economic and tourist importance.

n++My department has also been active in reforming policies leading to creating better eco-system. We have released our first ever National policy for capital goods sector with a clear objective of trebling manufacturing base to Rs. 75,000 crores by 2025 and raising direct and indirect employment from the current 8.4 to 30 million.

The policy also aims to facilitate improvement in technology depth across sub- sectors, increase skill availability, ensure mandatory standards and promote growth and capacity building of MSMEs.

This policy document has tried to identify and address issues relating to all sectors. For construction equipment industry, major bottleneck identified are to expand capacity, need for quality checks requiring regulations to stop usage of spurious spare parts, complex taxation structure, unfriendly tax clearance mechanism and issues with the skill development, said the secretary .

To make essential infrastructure facilities of Industrial Training Institutes (ITIs) available to Infrastructure Equipment Skill Council (IESC) certified Training partners in a phased manner.

We need to continue to focus on the existing sstong government and industry partnership which will help to ensure bridging the technological gaps that exist and further create a roadmap for a robust growth of the construction equipment and machinery sector in India.

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SECI to Launch 1000 MW Rooftop Solar PV Scheme for Government Sector
Dec 09,2016

As a step towards fulfilment of the Government of Indias target for installation of 40 GW rooftop solar power plants by the year 2022, Solar Energy Corporation of India (SECI) is launching today a tender of 1000 MW capacity for development of grid-connected rooftop solar capacity for Central Government Ministries/Departments. This would be the largest rooftop tender to be launched by SECI, and is expected to give a big boost to the hugely potent rooftop solar power generation segment.

The 1000 MW tender, one of the largest globally, is a move to rapidly escalate rooftop solar capacity in the country, and comes in quick succession to SECIs earlier tender of 500 MW capacity, targeting buildings in the residential/institutional and social sectors.

SECI is the leading PSU in the rooftop solar segment, and has already commissioned over 54 MW capacity of rooftop solar projects under multiple government schemes.

The upcoming 1000 MW tender is especially targeted at utilising the numerous buildings of the Central Government Ministries/Departments. The highlight of this tender is its innovative Achievement-Linked Incentives scheme wherein the incentives in terms of capital subsidy shall be provided on the basis of performance achieved by designated Ministries/departments against their committed targets in the given timespan.

In this scheme the Grid connected rooftop solar systems shall be installed with the financial assistance for MNRE in the form of Incentives. The power generated from the systems shall be used for meeting the captive requirement of the buildings and the surplus power, if any, shall be fed to the grid under the net-metering arrangement of the respective State.

Ministry of New & Renewable Energy (MNRE) has allocated 21 Ministries/ Departments to SECI interalia Ministry of Human Resource Development, Ministry of Finance, Ministry of Urban Development, Ministry of Parliamentary Affairs etc. The ministries have shown great enthusiasm and have assured their commitment with submission of n++Green Energy Commitment Certificatesn++ to MNRE for implementation of Grid Connected SPV power plants at the roof of their offices/other buildings etc., as part of their Clean energy initiatives and achieving National target of alleviating Global Warming. Various ministries/department have been sensitized by MNRE/SECI for implementation of Grid connected rooftop systems.

MNRE has also collated the demand of the various Ministries/departments for implementation of the systems. Based on the indicative list of sites provided by MNRE and various interested Ministries, SECI is carrying out a potential assessment which shall be provided to the solar PV developers (SPD).

The SPDs will be selected state-wise through national competitive bidding process and provision of one Rate / state shall be kept in the scheme. The 1000MW capacity will be distributed between CAPEX and RESCO modes of implementation in the ratio 30/70.

In this scheme, SECI in consultation with MNRE, is also introducing a Payment Security Mechanism which is apparently a first in the history of the rooftop programme, with the assurance of all rightful payments to the SPDs under RESCO model. SECI has also tied up with Financial institutes (FIs) Banks such as IREDA and SBI for disbursement of loans with Special Discount Packages to be offered by these institutions to the developers.

A toll-free number is being set up to ensure ease of communication of various stakeholders to SECI.

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Government is keen on introducing GST from April 1 next year: Najeeb shah, Chairman CBEC
Dec 09,2016

Chairman of the Central Board of Excise and Customs Mr Najeeb Shah asked the industry to prepare itself to implement the Goods and Services Tax (GST) with effect April 1 at an ASSOCHAM event.

There will be GST readiness on part of the government and urged the industry to be ready. On the issue of dual control among the states and the Centre, he said n++we dont want to reduce dual (GST structure) into duel, chairman, Central Board of Excise and Customs (CBEC).

Lack of consensus on the issue of how the new tax, having central and state elements, would be collected and administered is holding up the supporting legislations on the Goods and Service Tax (GST), which the government is keen on introducing from April 1 next year.

He said the CBEC would also look into anti-profiteering mechanism. We are very clear that one assesse will be dealing with the administration of either state or the Centre. So the entire cross empowerment issue was, we empower each other to say that in case the state authorities look at SGST issue, they also look at CGST and vice versa, Shah said.

Mr. Shah said, there will be GST readiness on part of the government and urged the industry to be ready. On the issue of dual control among the states and the Centre, he said n++we dont want to reduce dual (GST structure) into duel.n++

The administration of state or centre will be dealing with one assesses only. So, the entire cross empowerment went was to ensure the suitability empower with each other. The both the administration centre and the state are committed too. Im sure that an issue will be resolved, added Mr. Shah.

Chairman CBEC also said that the multiplicity of GST rates is the necessity due to the economic and political compulsion. The Government unsure about exact compensation figures for states, may vary between Rs. 10,000 to 20,000 crore, said Mr. Shah.

The central government and state governments have to collect Rs 8 lakh plus crore of revenue which they are currently getting from indirect taxes other than customs. In the course of the GST council deliberations, growth rate of 14% for 5 years for each one of the states has been assumed. Its a huge assumption and the burden which central government has cast upon itself.

Addressing the conference, Chairman of CBEC said, Im sick and tired of hearing from wise people that we should have one rate of GSTn++. He further said, how can we have a one rate for edible, cars, atta, computers? We cannot have one rate but we can reach one rate 20 years down the line. So, we have to have multiple rates.

We have a wide range of commodities which is not taxed by the state administration, taxed by central excise and service tax regime and vice -versa.

We are doing the great experiments with matching of invoices, no other administration has attempted to this. The matching of invoices will hope and ensure that need for the agency to intervene their entire process will be reduced considerably, said Mr. Shah.

Need for bringing in public domain the compliance rating of each customer, added chairman, Central Board of Excise and Customs.

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Robotics may take over 10 million jobs in 5 yrs: ASSOCHAM
Dec 09,2016

Up to 10 million jobs might be taken over by artificial intelligence or robots during the course of next five years owing to extreme technological developments taking place globally, apex industry body ASSOCHAM said.

n++The Union Government should integrate robotics as key components of its flagship Make in India, programme for attracting global manufacturers to set up their highly efficient and automated supply chain facilities in the country,n++ suggested a recent ASSOCHAM study titled Digital India to Robotic India.

The current industrial revolution globally is unfolding disruptive technologies in the form of automation, robotics, 3D printing, artificial intelligence, genomics etc., and has started eating jobs in large number and in India alone million of jobs are at stake in the next five years.

The Chamber thus, in its study has underlined an urgent need for fostering a partnership among government, industry and academia to equip people with the right skill sets.

n++The proposed partnership will be able to identify emerging skill requirements and academia, especially from developed countries would need to assist in structuring courses and setting curricula,n++ said Mr D.S. Rawat, secretary general of ASSOCHAM.

n++The Centre should create a national policy perspective for automation consisting of top level experts, representative of business, government and labour as it will set down the roadmap and guidelines to make this transition as painless as possible while assuring the stakeholders that the benefits will be widely and equitably shared,n++ said Mr Rawat.

n++This will at least sensitize the nation on the inevitability of robotics led automation in industry, manufacture, transport and distribution,n++ he added.

It is also pertinent to note that robotics technology is a settled necessity for not only making Indian industry globally competitive and the country attractive for entrepreneurs but also to promote manufacturing sector in states like Uttar Pradesh (UP) to ensure faster economic development.

ASSOCHAM has thus suggested the Government of Uttar Pradesh to dovetail its skill development policy conducive to create an enabling environment for private sector, provide better infrastructure, impart skill training to industrial workforce and promote ease of doing business across the state.

With several global auto firms setting up base in India and many hoping to export vehicles from the country both vehicle assembly and obtaining components by several Indian and joint venture (JV) component firms would require extensive automation to be at par with international standards.

In the beginning, automation and robotics would be inevitable at least where high quality and low costs on the one hand and safety of human workers are prime concern.

n++We must expect automation becoming the imperative where raw materials like rare earths or dangerous ones like radioactive metals and corrosive chemicals are in use, thus it is clear that in the hazardous industries, robotics help workers in their safety, rather than replace them,n++ said Mr Rawat.

n++As the product shelf-life shrinks, automated production processes would become inevitable to catch up with the competition domestically and globally,n++ he added.

n++Besides, in transportation of goods rapid use of containerization, automation at ports and in-time manufacture would make transportation more and more automated requiring fewer and fewer human intervention,n++ further said Mr Rawat.

The coming of driverless cars and trains is one indication. The reduction in use of fuels through greater efficiency of fuel use (cars at 25-30 km/hr are already a reality as well as cars requiring least periodic attention) would need fewer petrol pumps and repair shops, for instance.

Allaying concerns about job displacement, the study said, n++The sector automation and use of robotics need not be at the expense of labour, coexistence is possible; industry leaders must view the introduction of robots as a competitive advantage.n++

What is needed is a joint effort by all to make automation and subsequent changes in job pattern and demand on intelligence, innovation and creative work as a great opportunity to open the floodgates of enabling every individual to build his/her future in a global prosperity environment.

n++India need not fear the socio-economic churn of the coming Robotics Age but be prepared for welcoming it,n++ the study said.

Economic policies should assume that there will be accelerating movement from low wage-low skill workforce to high skill-high wage one that will endow larger spending potential to most people and that in turn will demand more leisure, more travel, more creative life styles with their attendant changes in most products and services.

n++This will assume a high voltage dynamic of the economy powered by automation and robotics.n++

All developing countries including China are rapidly moving to use of industrial and other robots and automation of many production and distribution processes while the middle income country South Korea has built its industry led prosperity with highest density of industrial robots.

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