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RGI releases Census 2011 data on Age at Marriage by Category of Economic Activities
Jun 27,2016

The Registrar General and Census Commissioner, India today released the Census 2011 data on Age at Marriage by Category of Economic Activities.. Table C-7 presents data on number of ever married and currently married population by age at marriage, duration of marriage and economic activity at India/State/District level. The mean age at marriage, as calculated from the table, for both males and females for all the categories of economic activities has improved during the last decade of 2001-2011. The comparative position for census 2001 and 2011 for various economic activities is given below:

Mean Age at Marriage by category of economic activity, India 2001-11

Category of Economic ActivityMalesFemales2001201120012011Main Workers22.623.518.219.2Cultivators 21.522.517.618.6Agricultural labourers21.822.517.718.5Workers in household industry23.723.419.519.1Other workers24.420.8Marginal Workers21.822.517.618.7Non-Workers22.823.518.519.4

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Government initiates process to constitute Monetary Policy Committee (MPC) under the Reserve Bank of India Act, 1934
Jun 27,2016

Government decides to bring the provisions of amended RBI Act regarding constitution of MPC into force on 27th June, 2016 so that statutory basis of MPC is made effective; Rules governing the procedure for Selection of Members of Monetary Policy Committeeand Terms and Conditions of their Appointment and factors constituting failure to meet inflation target under the MPC Framework notified on 27th June, 2016.

With a view to maintain price stability, while keeping in mind the objective of growth, the Reserve Bank of India Act, 1934 (RBI Act) has been amended by the Finance Act, 2016 to provide for a statutory and institutionalised framework for a Monetary Policy Committee (MPC). A Committee-based approach will add lot of value and transparency to monetary policy decisions. Out of the six Members of MPC, three Members will be from the Reserve Bank of India (RBI), including the Governor, who will be the ex-officio Chairperson, the Deputy Governor, RBI and one officer of RBI. The other three Members of MPC will be appointed by the Central Government, on the recommendations of a Search-cum-Selection Committee, which will be headed by the Cabinet Secretary. These three Members of MPC will be experts in the field of economics or banking or finance or Monetary policy and will be appointed for a period of 4 years and shall not be eligible for re-appointment. The meetings of the MPC shall be held at least 4 times a year and it shall publicise its decisions after each such meeting.

The Government has decided to bring the provisions of amended RBI Act regarding constitution of MPC into force on 27th June, 2016 so that statutory basis of MPC is made effective. The Rules governing the Procedure for Selection of Members of Monetary Policy Committee and Terms and Conditions of their Appointment and factors constituting failure to meet inflation target under the MPC Framework have also been notified on 27th June, 2016.

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Banks should shed reluctance in lending to urban poor as recovery is 98%, says Shri Venkaiah Naidu
Jun 27,2016

Reiterating the Governments top priority of eliminating poverty, Minister of Housing & Urban Poverty Alleviation Shri M.Venkaiah Naidu today urged the commercial banks to shed their reluctance in lending to the urban poor. In his inaugural address at the National Conference on Deendayal Antyodaya Yojana-National Urban Livelihoods Mission organized in the national capital, Shri Naidu stressed the need for enhanced credit flow to the Self-Help Groups and for self- employment through individual and group enterprises under the Mission.

Shri Venkaiah Naidu asserted that loan repayment by Self-Help Groups is 98% and hence, were most bankable and eligible for lending. He expressed concern over inadequate credit linkages to such groups in the States in the Northern and Eastern regions of the country with the Southern states accounting for 62% of total credit linkage of Rs.3,173 groups advanced during the last two years under DAY-NULM. He highlighted the importance of supporting Self-Help Groups that are in the forefront of addressing poverty by taking up various economically productive activities through internal lending among the members.

The Minister said that with several initiatives being taken to promote domestic and Foreign Direct Investment in various sectors, there is a vast scope for employment generation leading to increased demand for skilled manpower.

Shri Naidu said that the Government is committed to eliminating poverty by skilling the unskilled, funding the unfunded and reaching the unreached. The Minister stressed on the need for convergence in implementation of skill development programmes and scaling them up in a convergence mode. He said 25% of people still living Below Poverty Line is clearly unacceptable when the country is aspiring for a lead role in the comity of nations. Concerted efforts need to be mounted to eliminate poverty. Due emphasis needs to be given on training to catch the fish instead of giving fish all the time. While banks should scale up financing, loans need to be repaid.

Minister of Skill Development and Entrepreneurship Shri Rajiv Pratap Rudy said that an integrated eco-system is being put in place for skilling of 30 crore people while 24 ministries were involved in handling 70 skill development programmes. He expressed concern over skills not being given due recognition as a result of which in our country there are no Professors of Carpentry or Plumbing. Referring to what he called the paradox of people with 15 years of formal education and not finding jobs being promised jobs after a 15 week training, Shri Rudy said this needs to be resolved with proper course content and certification. He urged the banks to accept skill certification issued by approved agencies for advancing loans to skilled people.

Minister of State for Finance Shri Jayant Sinha suggested promotion of financial literacy among the beneficiaries as part of skill certification under skill development programmes to enable them with better management of money and enterprises for further growth in chosen area of career development. He favoured credit lending in the name of women stating that they proved to be more adept in managing finances. He also called for lending higher amounts under anti-poverty programmes. This suggestion assumes significance in the context of average loan amount sanctioned so far for setting up individual micro-enterprises under DAY-NULM being Rs.75,000/- against the permissible limit of Rs.2.00 lakh per beneficiary and Rs.3.11 lakh as against the ceiling of Rs.10 lakhs under group enterprises.

Shri Sinha said that under Prime Ministers MUDRA Yojana, Loan Origination System has been introduced under which credit history of beneficiaries would be tracked to help them develop further by extending all necessary support. He informed that lending target under MUDRA for the current financial year has been increased by Rs.50.000 cr from the Rs.1.30 lakh cr advanced to 3.40 cr beneficiaries during the last fiscal.

The National Conference on Deendayal Antyodaya Yojana-NULM is being organized by the Ministry of Housing and Urban Poverty Alleviation to discuss ways of scaling up skills training and credit flow to self-employment programmes and Self-Help Groups.

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MNRE sets Target of Setting up One Lakh Family type Biogas Plants for FY 2016-17
Jun 27,2016

With an objective to provide clean gaseous fuel for cooking and organic bio-manure as a by-product, the Ministry of New and Renewable Energy (MNRE) has allocated to the States /UTs an annual target of setting up one lakh family size biogas plants (1 m3 to 6 m3capacity) for the current year, 2016-17.

This will result in a likely saving of about 21,90,000 LPG cooking cylinders annually, besides providing biogas plant processed bio-manure to reduce and supplement use of chemical fertilizers. There would be saving of about 10,000 tonnes of urea equivalent. The average envisaged saving of emissions through carbon dioxide and methane into the atmosphere would be about 4,50,000 tonnes and about 2,50,000 tonnes respectively, that would help in reducing the causes of climate change.

The MNRE is implementing a National Biogas and Manure Management Progamme (NBMMP) for setting up family type biogas plants in the country. The objective of the scheme is to provide clean gaseous fuel for cooking and organic bio-manure as a by-product in the form of biogas plant left over slurry, which contains higher values of Nitrogen, phosphorus and potassium (N, P&K).

NBMMP also helps in mitigating drudgery of women in rural and semi-urban areas by saving in their time both in collection of firewood, making cattle dung cakes and cooking. A biogas plant will facilitate in achieving sanitary in villages by linking sanitary toilets with cattle dung based biogas plants and the slurry bio-manure can be applied for crop production in solid, liquid or dried form.

There are applications of biogas to meet n++lifeline energyn++ needs for cooking & lighting in the n++Integrated Energy Policyn++ of the Planning Commission, now National Institution for Transforming India (NITI) Aayog. Otherwise also biogas is clean gaseous fuel for cooking, heating, generating electricity, and also for motive power and operating vehicles. It has the potential for leveraging livelihood development as well as tackling the issues related with health hazard associated with indoor air pollution.

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145 villages electrified last week ; 8,529 villages electrified till date under DDUGJY
Jun 27,2016

145 villages have been electrified across the country during last week (from 20 th to 26th June 2016) under Deen Dayal Upadhyaya Gram Jyoti Yojna (DDUGJY). Out of these electrified villages, 67 villages belong to Assam, 16 in Jharkhand, 29 in Meghalaya ,8 in Rajasthan , 11 in Odisha, 3 in Madhya Pradesh , 8 in Bihar, 2 in Chhattisgarh and 1 in Uttar Pradesh.

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Indo-US Cooperation On Clean Energy Moving In Right Direction: US Embassy
Jun 27,2016

Minister Counsellor for Economic, Environment, Science and Technology Affairs, Embassy of the United States of America, Mr. George N Sibley on Friday asserted that the research and development engagements of Indo-US clean energy cooperation has been progressing objectively, making a prophesy that it might lead to invent technologies for storage facilities of solar and other clean energies.

Speaking at a Business Sustainability and Responsibility Reporting Summit 2016 under joint aegis of PHD Chamber of Commerce and Industry and FORE School of Management, Mr. Sibley even forecast that this exercise might also produce scholars for noble prize in case the storage solutions for clean energy are discovered.

n++The world has so far not been able to create storage facilities for energy generated both in the segments of fossil and non-fossil and, therefore, a time has come that research and development work is necessitated for creating energy store housesn++, he emphasised.

Speaking on the occasion Counsellor for Trade and Economic Affairs, Embassy of Sweden, Ms. Anna Ferry informed her country has come out with an action plan as per which its corporates are required to integrate their business processes with environment and ecology so that these are kept unspoilt from all possible sources of pollutions and degradation. The action plan makes it obligatory for the Swiss companies to apply same standards and tools including applications for production even outside their country so that the sensitivities of environment and ecology are hurt little, she added.

Convener and Chief Programme Executive (CSR), National Foundation for Corporate Social Responsibility (NFCSR), Indian Institute of Corporate Affairs, Ms. Gayatri Subramaniam emphasised that national voluntary guidelines pave a way for the companies to apply sustainability practices at their workplace taking care of people and plant along with profits.

Director, FORE School of Management, Dr. Jitendra Das sought the participation of all citizens of the world including those of India to resist all attempts intended or unintended so that production methodologies of any economic activity is prevented from hurting the environment.

In their remarks, President and Vice President, PHD Chamber, Dr. Mahesh Gupta and Mr. Anil Khaitan also emphasised the need to maintain an eco system that can strike is suitable balance between production processes and environment. Sr. Secretary, PHD Chamber, Dr. Jatinder Singh moderated the summit.

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UK Exit to Bring Central Banks Back in Focus for DebtFX Markets
Jun 27,2016

The formal exit of the UK from the European Union is likely to create more uncertainties rather than alleviating them in the coming months and will bring central banks back in focus, says India Ratings and Research (Ind-Ra). Indian markets are unlikely to be completely insulated from the impact of this global contagion, despite the relatively resilient domestic macroeconomic conditions.

Domestically, the ensuing global volatility could put the both currency and debt markets on tenterhooks, but the markets will await clarity from global central banks as they tackle this unprecedented event. The markets are likely to be gripped with two major concerns hereon: (1) the instability that euro area will face as other nations contemplate their membership in the European Union (2) the response of global central banks especially the US Federal Reserves stance on policy rates.

The UK referendum decision is a harbinger for more volatility in the short to medium term while the modalities, process and timeline of the exit are being ironed out. Ind-Ra believes that Brexit will have a destabilising impact on the UK and euro region with increasing scope for other nations to rethink their position in the euro region.

The financial markets are likely to move back into the central banks zone as the latter steps in to stave off global deflationary pressure while boosting growth. The US Federal Reserve is likely to delay its ongoing rate normalisation. Concomitantly, the possibility of a weak domestic and global recovery, stronger dollar and slump in commodity prices may necessitate the US Fed to reassess its policy rate trajectory. The median federal open market committee expectation of federal funds rate for end-2016 suggested two rate hikes (with members seeing the rate between 0.75%-1%). An extended period of global volatility, however, is likely to keep the Fed on the side of caution and constrain the imminent rate hikes before stability is restored.

Ind-Ra believes the Reserve Bank of Indias initial line of action will be to address temporary shocks in systemic liquidity through liquidity channels rather than policy rates. The possible tools can be (1) stepping up the size of open market operations (2) reducing the daily requirement of cash reserve ratio (3) broadening the collateral base in the repo market (4) increasing the size and duration of discretionary term repos. Presently, the liquidity conditions are broadly easy with core systemic deficit hovering in the range of 0.2%-0.4% of net demand and time liabilities.

The currency market is likely to witness high volatility, keeping the rupee trading with a weak bias in the near term. In terms of negative implications, an overall environment of risk-off is unlikely to revive foreign flows to India in a hurry. In 2016, the equity segment noted a net portfolio inflow of USD2.8bn while debt outflows stood at USD1.1bn. Additionally, tail risks over FCNR B (foreign currency non-resident) deposits redemption may get pronounced on account of external volatility. On the positive side, Ind-Ra believes the US Fed will stay put with a protracted pace of hikes. This may check the deterioration in overall emerging market sentiments.

For the bond market, an interplay of three factors will be critical (1) the period of low global yields and benefit from near-term softening of commodity prices may augur well for the domestic market, keeping the head room open for the Reserve Bank of India to ease rates later in the year (2) in event of weak portfolio flows, scope for stepping up open market operation purchase will be supportive for G-sec market and (3) the high portfolio investors debt exposure at INR3.3trn presently (INR1.7trn in government securities and INR1.6trn on corporate debt front) suggest the risk of outflows cannot be undermined.

Ind-Ra continues to assert that the domestic corporate sector outlook will remain challenging over the coming two years, aggravated by this recent episode. Ind-Ra earlier has highlighted external risks could derail a fragile recovery. Bouts of global risk aversion corresponding with rupee depreciation are likely to limit the corporate sector appetite for investments, keeping the economy on an overall low equilibrium.

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More jobs & entrepreneurship opportunities needed to promote women empowerment & achieve gender parity: Study
Jun 27,2016

There is an urgent need to create more jobs and entrepreneurship opportunities to promote women empowerment thereby making them economically independent as female labour force participation (FLFP) rate in India has fallen significantly by 10 per cent during the last decade, noted a recent ASSOCHAM-Thought Arbitrage Research study.

The Associated Chambers of Commerce and Industry of India (ASSOCHAM) along with knowledge firm Thought Arbitrage Research Institute (TARI) conducted a study titled Female Labour Force Participation in India, analysing Indias performance in female labour force participation (FLFP) in comparison with the rest of the world and identifying factors that determine FLFP in India along with barriers to its growth.

Though there was a spurt in the number of working women in India during 2000-2005, increasing from 34 per cent to 37 per cent, the female labour force participation rate has reduced continuously thereafter and reached 27 per cent in 2014, particularly during the period when economy was experiencing unprecedented growth according to World Banks report on World Development Indicators.

More so given the turn in Indian economy in the 1990s, and the rates of growth that have been achieved, an obvious conclusion that is often drawn is that FLFP should be increasing - due to increase in disposal incomes, job opportunities, education and healthcare - all factors that economic growth would normally have an impact on.

There are certain primary reasons for low participation of women in the labour force like lack of access to higher education among women, dearth of opportunities to work and even lack of flexibility in working conditions tends to dissuade women from joining the labour force as they turn to their domestic duties.

Another concerning aspect is that India rates lowest in terms of FLFP with a dismal score and a huge gap between it and the next among BRICS countries - China (64 per cent), Brazil (59 per cent), Russian Federation (57 per cent), South Africa (45 per cent) and India (27 per cent).

Further, the gap between rural male and female labour force participation in India in 2011 stood at about 30 per cent while in urban centres gap was more pronounced (about 40 per cent). n++This can be attributed to social and cultural curtailment and often the lack of work opportunities.n++

It has also been highlighted that in India, marriage decreases the probability of FLFP by about eight per cent in rural areas and more than twice as much in urban areas.

As per the latest available data, the FLFP rate in India was about 36 per cent as of 2011-12, with 31 out of 35 states and union territories scoring rates below national average, while only Andhra Pradesh (erstwhile), Chhattisgarh, Sikkim and Himachal Pradesh faring better in this regard.

Initiatives like Beti Bachao Beti Padhao, Make in India, Start-up India and others are positive steps in the direction to improve female labour force participation in India, however, more initiatives towards womens empowerment need to be taken to create an enabling environment for increasing female employment and entrepreneurship, noted the ASSOCHAM-TARI study.

The study suggested promoting skill training programmes for women, setting up child care centres in large numbers, ensuring women safety and security in every sphere through efforts by both the Central and state governments and other such measures are imperative to boost female labour force participation in India.

Considering that even a 10 per cent increase in FLFP rate can boost gross domestic product (GDP) by 0.3 per cent, according to The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), it is imperative that policy measures and programmes are introduced and implemented to increase the participation of women in the workforce in India.

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Kharif Crop sown in 124.94 lakh hectare so far
Jun 24,2016

The total sown area as on 24th June, as per reports received from States, stands at 124.94 lakh hectare as compared to 164.10 lakh hectare at this time last year.

It is reported that rice has been sown/transplanted in 19.86 lakh ha, pulses in 9.66 lakh ha, coarse cereals in 17.60 lakh ha, oilseeds in 6.97 lakh ha, sugarcane in 44.38 lakh hectare and cotton in 19.07 lakh ha.

The details of the area covered so far and that covered during this time last year are given below:

Lakhn++hectaren++

CropArea sown in 2016-17Area sown in 2015-16Rice19.8621.86Pulses9.6612.19Coarse Cereals17.6018.19Oilseeds6.9727.85Sugarcane44.3841.58Jute & Mesta7.407.56Cotton19.0734.87Total124.94164.10

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Soft Global Economy Continues To Weigh On Emerging East Asian Bond Yields
Jun 24,2016

Bond yields in most emerging East Asian markets continued to track lower from 1 March to 15 May 2016 as investors factored in forecasts of continued slow growth for the global economy, Asian Development Banks (ADB) latest Asia Bond Monitor said.

At the same time, the US Federal Reserves cautious approach to keep interest rates steady in its first three meetings in 2016 led to positive inflows in a number of emerging East Asian local currency government bond markets between January and April. Domestic equity markets and emerging East Asian currencies were mostly stronger over the review period, while credit default swap spreads fell, reflecting reduced perceptions of default risk in the region.

n++The outlook for emerging East Asian bonds remains mostly benign given still strong fundamentals and interest in the region, however, there are downside risks, including the possibility that quicker than expected US Federal Reserve interest rate hikes trigger a foreign investor pullback from the region,n++ said Shang-Jin Wei, ADBs Chief Economist. n++At the same time policies to improve the efficiency and transparency of financial markets can help economies in the region remain flexible in the face of external shocks.n++

The report notes that further stagnation in the global economy and worries about financial instability, along with emerging deflation in emerging East Asia, are other risks.

Most local currency government bond yields, including for 10-year government paper, fell. The Peoples Republic of China (PRC) and the Philippines were exceptions, with yields mostly up.

Local currency bond markets in emerging East Asia continued to grow, rising to over $9.6 trillion at end-March, marking a nearly 4% rise from end-December, and a more than 20% climb over the same period the year earlier. Local currency bond issuance of over $1 trillion in the first quarter was down over 2% from the previous quarter, but was still up 51% from the year earlier period.

The PRCs bond market remained emerging East Asias largest, accounting for nearly 68% of total bond stock as of end-March 2016. Local currency government bonds continued to dominate, accounting for nearly 62% of total holdings at end-March with corporate bonds less attractive due to their more illiquid nature.

Between 1 March and 15 May, equities rose in all emerging East Asian markets, except for modest declines in Indonesia and Malaysia, while currencies were broadly stronger against the US dollar, with the Republic of Korea won appreciating the most (up 5% during the review period), followed by the Malaysian ringgit, which gained over 3%.

The reports theme chapter examines the macroeconomic factors affecting sovereign bond yields in emerging Asia, highlighting the role of inflation and the different yield impacts of consumer price index (CPI) and producer price index (PPI) inflation, the importance of domestic liquidity, and the influence of the global economic environment on bond yields.

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ADB, IRRI Sign Knowledge Partnership Agreement
Jun 24,2016

Asian Development Bank (ADB) President Takehiko Nakao and International Rice Research Institute (IRRI) Director General Matthew Morell signed an agreement to promote food security in Asia and the Pacific by scaling up collaboration on disseminating research and other knowledge on the role of advanced agricultural technologies in providing affordable food for all.

Under the partnership agreement signed today during ADBs Food Security Forum 2016, the two institutions will undertake annual consultations to review and ensure alignment of ongoing collaborative activities, and to develop a joint work program. The 2016 program will focus on expanding the use of climate-smart agriculture and water-saving technologies to increase productivity and boost the resilience of rice cultivation systems, and to minimize the carbon footprint of rice production.

This new form of collaboration with IRRI is another step toward our shared goal of ensuring good food and nutrition for all citizens of this region, said Mr. Nakao. We look forward to further strengthening our cooperation in this area to promote inclusive and sustainable growth, as well as to combat climate change.

I am delighted to build on our partnership with ADB to add a new dimension to our long-standing collaborative work, Mr. Morell said.

IRRI looks forward to deepening our already strong partnership as we jointly develop and disseminate useful agricultural technologies throughout Asia.

ADB and IRRI have collaborated since 1975 on agricultural research to provide scientific solutions to a wide array of challenges including low crop yields, vulnerability to extreme weather, pests and disease, postharvest losses, deteriorating land and water resources, and greenhouse gas emissions.

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Storage Status of 91 Major Reservoirs of the Country is 15% of total storage capacity as on JUNE 23, 2016
Jun 24,2016

The water storage available in 91 major reservoirs of the country for the week ending on June 23, 2016 was 23.202 BCM which is 15% of total storage capacity of these reservoirs. This was 54% of the storage of corresponding period of last year and 75% of storage of average of last ten years.

The total storage capacity of these 91 reservoirs is 157.799 BCM which is about 62% of the total storage capacity of 253.388 BCM which is estimated to have been created in the country. 37 Reservoirs out of these 91 have hydropower benefit with installed capacity of more than 60 MW.

REGION WISE STORAGE STATUS:-

NORTHERN REGION

The northern region includes States of Himachal Pradesh, Punjab and Rajasthan. There are 6 reservoirs under Central Water Commission (CWC) monitoring having total live storage capacity of 18.01 BCM. The total live storage available in these reservoirs is 4.25 BCM which is 24% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 42% and average storage of last ten years during corresponding period was 30% of live storage capacity of these reservoirs. Thus, storage during current year is less than the corresponding period of last year and is also less than the average storage of last ten years during the corresponding period.

EASTERN REGION

The Eastern region includes States of Jharkhand, Odisha, West Bengal and Tripura. There are 15 reservoirs under CWC monitoring having total live storage capacity of 18.83 BCM. The total live storage available in these reservoirs is 3.07 BCM which is 16% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 28% and average storage of last ten years during corresponding period was 17% of live storage capacity of these reservoirs. Thus, storage during current year is less than the corresponding period of last year and is also less than the average storage of last ten years during the corresponding period.

WESTERN REGION

The Western region includes States of Gujarat and Maharashtra. There are 27 reservoirs under CWC monitoring having total live storage capacity of 27.07 BCM. The total live storage available in these reservoirs is 2.49 BCM which is 09% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 21% and average storage of last ten years during corresponding period was21% of live storage capacity of these reservoirs. Thus, storage during current year is less than the storage of last year and is also less than the average storage of last ten years during the corresponding period.

CENTRAL REGION

The Central region includes States of Uttar Pradesh, Uttarakhand, Madhya Pradesh and Chhattisgarh. There are 12 reservoirs under CWC monitoring having total live storage capacity of 42.30 BCM. The total live storage available in these reservoirs is 8.52 BCM which is 20% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 29% and average storage of last ten years during corresponding period was 15% of live storage capacity of these reservoirs. Thus, storage during current year is less than the storage of last year but better than the average storage of last ten years during the corresponding period.

SOUTHERN REGION

The Southern region includes States of Andhra Pradesh, Telangana, AP&TG (Two combined projects in both states) Karnataka, Kerala and Tamil Nadu. There are 31 reservoirs under CWC monitoring having total live storage capacity of 51.59 BCM. The total live storage available in these reservoirs is 4.88 BCM which is 9% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 23% and average storage of last ten years during corresponding period was 21% of live storage capacity of these reservoirs. Thus, storage during current year is less than the corresponding period of last year and is also less than the average storage of last ten years during the corresponding period.

States having better storage than last year for corresponding period are Rajasthan West Bengal, Tripura, Andhra Pradesh. States having lesser storage than last year for corresponding period are Himachal Pradesh, AP&TG (Two combined projects in both states), Punjab, Jharkhand, Odisha, Gujarat, Maharashtra, Uttar Pradesh, Uttarakhand, Madhya Pradesh, Chhattisgarh, Telangana, Tamil Nadu, Kerala and Karnataka.

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Ministry of HUPA to promote regional planning to meet urban housing demand
Jun 24,2016

Minister of State for Housing & Urban Poverty Alleviation and Urban Development Shri Babul Supriyo has said that the Government will promote regional planning by moving beyond city-centric planning for construction of houses in satellite townships, peri-urban and peripheral areas to meet the housing demand in urban areas. He inaugurated an international workshop on n++Human Settlements-Planning and Design : A Shared Understandingn++.

Shri Supriyo said that the Government is committed to ensure housing for urban poor by 2022 and further observed that n++the government while acknowledging problems in urban areas is striving to solve them in an integrated and goal centric mannern++. The Minister stressed the need to assist the poor even in remote and far off places in planning , design and construction of safe and resilient houses.

Shri Supriyo referred to various initiatives launched by the Government to address infrastructure bottlenecks and housing shortage in urban areas.

Dr.Nandita Chatterjee, Secretary (HUPA) said that n++ the Ministry is close to finalizing a pro-active, practical and pragmatic Rental Housing Policy keeping in view that 27% of the housing demand is for such rental housingn++. She emphasized on the need for effective planning and design so as to meet the housing needs of all sections of the people in the context of rising costs of land, labour and availability of materials.

Dr. Chattejee noted that to move beyond city-centric planning for housing, construction of houses under Pradhan Mantri Awas Yojana (Urban) is being allowed in planning areas which go beyond city limits. She said that planning needs to be done in the context of rural - urban continuum and Shyama Prasad Mukherjee Rurban Mission is a step in this regard.

Ministry of HUPA has organized the workshop for sharing of ideas and experiences in respect of housing among the Asia-Pacific countries. Representatives from 9 countries viz., Japan, South Korea, Myanmar, Sri Lanka, Afghanistan, Iran, Iraq and Fiji have attended the workshop.

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$500 Million ADB Loan To Help India Build Its Longest River Bridge
Jun 24,2016

The Asian Development Bank (ADB) today approved a $500 million loan to build a bridge across Indias Ganges River. The 9.8 kilometer (km) road bridge in the northeastern state of Bihar will be Indias longest river bridge and will provide vital transport links between the northern and southern parts of the state and with neighboring Nepal.

The new bridge will make it easier for people to move between jobs and markets, particularly for poorer communities in the north wishing to travel to the state capital, Patna, just south of the river, said Dong Kyu Lee in ADBs South Asia Department who is leading the project. In all, the bridge is expected to benefit over nine million people.

Bihar, the third most populous state in India with over 100 million inhabitants, has poverty levels above the national average, with seven out of 10 of the states poorest districts located in the north. Traffic volumes are rising but there are only four operational bridges along the 200 km stretch of the Ganges River that pass through Bihar state, and the capacity of existing bridges is already stretched, undermining connectivity and access to opportunities for northern communities.

The new Ganga Bridge, to be located near Patna, will span both channels of the Ganges River and serve as an alternate route to the existing Ganga Bridge, which has begun to deteriorate. Along with the bridge structure itself, the project will also build viaducts, embankments, and toll and service facilities, and will link to national highway networks.

A key feature will be a year-round embankment access road for the 250,000 inhabitants of the Raghopur Diara river island, ending their reliance on boats and a seasonal pontoon bridge as their only links to Patna.

The bridge, using state-of-the-art engineering techniques, will be the first of its kind in India. The height and length have been designed to minimize impacts on the river itself and to ensure the bridge will be able to withstand climate-related stresses such as a rise in the water level.

Along with ADBs loan and $900,000 in technical assistance to improve bridge operation and management, the state government of Bihar will provide support equivalent to $215 million. The project will run for about 4 years with an expected completion date of the end of December 2020.

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Capping would not be the answer to deal airfares rise: Ashok Gajapathi Raju
Jun 24,2016

Civil Aviation Minister Ashok Gajapathi Raju said, to deal with steep rise in airfares, capping would not be the answer as it would also push the floor prices at an The Associated Chambers of Commerce and Industry of India (ASSOCHAM) event.

On capping airfares, We did analysis which showed that 1.7% of the tickets sold were of high cost. So, the last minute high price of ticket is matter of concernn++. But we should not land up in a situation that pushes price of over 90% of passengers for benefit of 1.7%, said Mr Ashok Gajapathi Raju Pusapati, Union Minister, Ministry of Civil Aviation.

Mr Rajiv Nayan Choubey, Secretary, Ministry of Civil Aviation said, n++the civil aviation policy is just the beginning. We wish to stay ahead of the growth curve and if we fall behind the growth curve, for example as it happened in case of urban development in the country, there will be aviation chaos in skies, airports....All that we must do in order to ensure that we stay ahead of the growth curven++.

There are couples of areas which require immediate attention like how to reduce the cost of leasing? If the cost leasing remains high either because of capital or any other procedural requirement, the regional connectivity may find difficulty in taking off so we are committed to exploring ways to reduce the cost of leasing, added Mr. Choubey.

Mr. Choubey further said if the crude price remains soft for the next 4-5 years, regional air connectivity would have found very strong roots in India.

The Civil Aviation Ministry would look at the possibility of utilizing certain unused airports for the purpose of parking aircraft and use aerodromes for plane-breaking or dismantling of old aircraft. There are around 400 unused airports and airstrips across the country, said Mr. Choubey.

He said, in the last 4-5 months, we interacted with the aircraft manufactures from all over the world where they could clearly see the scope of hundreds of small planes coming to the country in next 3-5 years.

To sell aircraft in India, sell an eco-system and should have elements which are excellent aircraft and fuel efficient. Secondly, it should also have maintenance facilities which should be created in country or maybe tie up with MROs in the country and make sure that the maintenance happens in the country.

Third, they must also come with the training infrastructure for the cabin crew and for cooperate groups. They must tie up again with several institutes which are already here or set up their own. Last, they must bring very attractive leasing packages, said Mr. Choubey .

Mr Ajay Singh, Chairman & MD, Spicejet Limited, Aviation India will grow only if we are able to constantly work to reduce the cost of aviation in India. We have to bring down the cost or fares and stimulate this market with low fares. The 20% growth we have seen today in the consequence of the reduction in fares from last year to this year and that must continue if you want to see sector growing.

Mr. Rana Kapoor, MD & CEO, YES BANK, said, n++It is indeed a great honour and privilege to be recognized for our contribution to promoting tourism. The award is a true recognition of YES BANKs decade-long relentless focus on providing innovative solutions to key sunrise sectors of the economy, like Tourism & Hospitality, which go beyond the traditional realm of banking and help unlock the enormous potential of the sector. The Award will surely strengthen YES BANKs endeavor in championing significant policy changes at various forums, aimed at the holistic development of the sector and unleash the sectors untapped potential.n++

At the programme, Airbus was given the award for being the best global aviation company in aviation, Pawan Hans for promoting remote & regional connectivity, best airport for GMR Dial, SafeExpress, the best air cargo logistics, the best banker promoting tourism, Yes Bank, the best luxury jet charter, Club One Air, Frankfin, the best air-hostess training institute and Swift Turnaround in a airline company, Spicejet.

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