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Workshop on Ways to Promote Water Transportation
Jun 20,2016

The Ministry of Shipping is organizing a workshop with various stakeholders and industry representatives on 20th June 2016 to discuss ways and means to promote water transportation and make it competitive to roads and railways transportation.

The waterways mode of transportation is fuel-efficient, environment - friendly, and capable of easing traffic congestion on roads and railways thus preventing loss of human lives due to accidents. The Government of India is committed to promote coastal shipping and inland waterways transportation and has envisioned the increasing of the share of waterways transportation mode from the present level of 7% to 10% by 2020.

To optimize utilization of waterways as a transportation mode many important steps have already been taken, which include (i) moderating manning and technical requirements for vessels operating within Indian territorial waters through a river sea vessel notification; (ii) declaring the inland vessel limits for facilitating coastal trade operations; (iii) issuing coastal shipping rules for coastal vessels operating within 20 miles off the coast; (iv) advising major ports to introduce green channel for coastal cargo, priority berthing for coastal vessels and construction of exclusive coastal berths; (v) exempting customs and Central Excise duty on bunker fuels (IFO 180 and IFO 380 CST) for use by coastal vessels carrying EXIM cargo or empty containers or domestic cargo between two ports, in India; (vi) bringing abatement of service tax at 70% for coastal shipping at par with road and rail; (vii) simplification of customs procedures, etc.

To provide thrust to the transportation of automobile cargo through waterways, apart from relaxing cabotage for Roll-on-Roll-off vessels, the wharfage charges on per unit basis, instead of on ad volarem basis, have been introduced for major ports and tariff is prescribed at concessional rates for Roll-on-Roll-off (RoRo) vessels on coastal voyage for transporting cars from one Indian port to another Indian Port.

As a step towards finalizing the operationalization of the above initiatives, the workshop is being organized with participation of Indian Waterways Authority of India, Director General of Shipping, INSA, ICCSA, logistics companies and freight forwarders and other stakeholders to seek their views on modal shift of cargo transportation to coastal shipping and waterways, and to remove impediments and make water transportation competitive.

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Textiles Minister dedicates five Solarised Community Centres and 100 Shelter Homes for benefit of wool growers in Ladakh
Jun 18,2016

The Union Textiles Minister Shri Santosh Kumar Gangwar dedicated five Solarised Community Centre and 100 shelter homes for the benefit of the nomads (wool-growers) involved in Pashmina sheep rearing, in very hard conditions; in Ladakh region.

The Minister, while interacting with the nomads announced that all other kinds of help in respect of marketing of raw pashmina and linking pashmina products with tourism would be facilitated by Government of India.

The Minister also informed that during the last two years, animal productivity (average pashmina yield) has gone up by 9.30%. He said that mortality of livestock has come down and critical rural infrastructure has been created under the scheme during this period, in remote and nomadic areas, situated mostly in border areas. Shri Gangwar noted that the health and body weight of animals have improved, socio-economic status of Pashmina breeders has improved and returns from Pashmina wool have gone up. The Minister said that Pashmina development schemes have ultimately resulted in increase profitability to herders engaged in Pashmina goat rearing, making it extremely popular among the livestock-rearing nomads of the Ladakh region.

Background

Honble Prime Minister Shri Narendra Modi during his visit to Leh on 12th August, 2014, announced Pashmina Promotion Programme (P-3) with additional financial assistance of Rs. 30 crore for improving quality and quantity of pashmina wool as well as living standards of nomads (wool growers) of Ladakh region.

Consequently, the Ministry of Textiles developed the Pashmina Promotion Programme (P-3) for these purposes, which was launched by Honble Minister of State for Textiles (Independent Charge), Shri Santosh Kumar Gangwar in October 2014; the Minister also laid the foundation stone for a Pashmina Dehairing Plant building at Leh on the occasion.

Under this Programme, financial assistance is being provided under different components like Creation of Common Pashmina Facilitation Centre for Wool testing, Disease Surveillance Centre, Geographic Information System (GIS) Lab, Shelter for Nomads, Portable Electric Units for Handloom Spinning/Weaving, Solarised Community Centres, Open Fodder enclosures, Distribution of Foundation Stock (male & female goats) to farmers and construction of Shelter for Housing of Pashmina animals.

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Innovative Approach, Passion, Patience And Element Of Luck Make An Entrappers: MD, Harvest Gold At PHD Chamber
Jun 18,2016

Managing Director, Harvest Gold Industries Pvt. Ltd., Mr. Adil Hassan on Wednesday suggested innovative approach coupled with passion and patience as significant milestones to turn to be entrepreneurs without inheritance of business background.

Delivering his CEO Talk, organized by PHD Chamber of Commerce and Industry at its Young Business Leaders Forum, Mr. Hassan tendered an advice to aspiring entrepreneurs to take calculative risk, especially in choosing partners as your association with them can make and mar your business prospects.

He also emphasised that innovative approach with passion and patience should have sufficient support of the element of luck to make your business grow and expand in the absence of which, the business and even the best of entrepreneurial skills could collapse.

Entrepreneurial talent and skills make and motivate the aspiring business start-ups work for 24x7 as in modern businesses the calculative risks pay off rich dividends to those who have the capacity to work consistently without any break.

In his welcome remarks, Vice President, PHD Chamber, Mr. Anil Khaitan emphasised saying that the aspiring business lot need to be fearless to cut the mountains and face business challenges with fortitude and capacity to think differently.

Secretary General, PHD Chamber, Mr. Saurabh Sanyal praised the quality and precision with which the Harvest bread is made and attributed its success to the best quality processes that the product goes through the various value engineering and product processes.

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Launch of Korea Plus
Jun 18,2016

The Commerce & Industry Minister Smt. Nirmala Sitharaman and Mr. Joo Hyunghwan, the Minister of Trade, Industry & Energy, Government of the Republic of Korea, today, launched Korea Plus, a special initiative to promote and facilitate Korean Investments in India.

An MOU for establishing Korea Plus was earlier signed between the Ministry of Trade, Industry and Energy, Govt. of the Republic of Korea and Invest India, the National Investment Promotion & Facilitation Agency of India in January 2016. This MOU came as an outcome of the visit of the Indian Prime Minister to South Korea in May 2015.

The launch took place in the presence of Mr. Cho Hyun, the Ambassador of the Republic of Korea to India, officials of the Department of Industrial Policy and Promotion, Korea Trade Investment Promotion Agency (KOTRA), Invest India team and several Korean Business delegates.

Korea Plus, operationalized on June 18, 2016 comprises of a representative from the Ministry of Industry, Trade and Energy, Government of the Republic of Korea and representative from Korea Trade Investment and Promotion Agency (KOTRA) and three representatives from Invest India.

The mandate of Korea Plus covers the entire investment spectrum including supporting Korean enterprises entering the Indian market for the first time, looking into issues faced by Korean companies doing business in India and policy advocacy to the Indian Government on their behalf. Korea Plus will act as a mediator in arranging meetings, assisting in public relations and research/evaluation and provide information and counselling in regard to Korean companies investing in India.

India and the Republic of Korea relations have made great strides in recent years and Korea Plus will act as a catalyst in making these relations even more robust.

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All States Agree to Provide Power to all Households in 18452 villages by May 2017
Jun 18,2016

The Union Minister for Power, Coal and Renewable Energy, Shri Piyush Goyal has said that all the states have resolved to provide 24x7 power for all by March 2019 or earlier in their respective states. Further all states, except LWE affected, have also resolved to electrify all remaining unelectrified villages by 31st December 2016 and states will award contracts in the next 30 days for this work. Announcing this at a press conference at the state Power Ministers Conference, Shri Goyal said that states also agreed for providing 100 percent power to all households in 18452 villages in the country in a mission mode by 1st May 2017.The participating states also resolved to ensure that operational and financial milestones in the MOU for UDAY would also be implemented. In a landmark decision all states resolved to procure henceforth only Smart Meters which are tamper proof and communication enabled. The Minister said the cost of these smart meters has been brought down by 60 percent from Rs 8000 to Rs 3223 as a result of central procurement and the endeavor is to go for only such meters in the future for 25 crore consumers in the country.

The Minister also announced that one 4 digit all India number 1912 has been started for consumer complaints across the country. Sharing the outcome of the 2 day meeting, he said it was a successful fruitful dialogue over two days and everyone worked in service of the poor and farmers in a cooperative and collaborative manner demonstrating the strength of our democracy. Shri Goyal said the meeting disproved the notion that different political interests cannot bring about commonality of a purpose. The meeting also discussed Hydro power policy and sought to work out ways of reviving small (25 MW or less) stalled hydro projects with cooperation from the states to provide new thrust to the hydro sector. He said a committee for this has been set up which will submit its recommendations by 30th September 2016.

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4800 villages in Gujarat declared Open Defecation Free (ODF)
Jun 18,2016

The Secretary, Ministry of Drinking Water and Sanitation, Shri Parameswaran Iyer, went on a State visit to Gujarat today where he met the Chief Secretary and Principal Secretary (Sanitation), and discussed the progress being made by the State towards achieving open defecation free (ODF) status.

The State Principal Secretary, Sanitation, Ms Jayanti Ravi, apprised the Central team about various initiatives being taken by the State in this regard. The State has achieved a sanitation coverage of 73.75%, and 4800 villages in Gujarat have declared themselves as ODF. This has been achieved through a strong emphasis on behaviour change trainings, involvement of Self Help Groups and involving various Development partners like World Bank, UNICEF and Tata Trusts closely.

An exhibition showcasing various innovative IEC (Information-Education-Communication) / Interpersonal tools was organized by the State on the occasion. The State also made a presentation highlighting the State strategy. Inter Departmental convergence came up as an important tool being deployed. Special focus was given during the discussion to capacity building in community approaches. It was decided that 20 virtual classrooms will be set up in the State to further support this purpose. State presented detailed plan of identifying and training motivators up to the village level.

A meeting was also held with all the development partners, which included discussion on progress, support requirements and challenges on the field.

The Secretary later met with the Chief Secretary of Gujarat, Shri G. R. Aloria, and held a video conference with all District Development Officers (DDOs) of Gujarat. The districts expressed readiness of plan and effort to achieve Swachhta soon.

The Secretary concluded by emphasizing that Swachh Bharat is a programme of behavioural change and while we should do it in a campaign mode, we will have to keep a focus on quality and sustainability. The demand generation by the people themselves for toilets is a must for success of the programme. It was agreed that the State will put in place an independent concurrent evaluation system.

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Kharif Crop Sown in 84.21 Lakh Hectare so far
Jun 17,2016

Preliminary reports of crop coverage in the kharif season have started coming in. The total sown area as on 17th June, as per reports received from States, stands at 84.21 lakh hectare as compared to 93.63 lakh hectare at this time last year.

It is reported that rice has been sown/transplanted in 9.17 lakh ha, pulses in 3.32 lakh ha, coarse cereals in 6.01 lakh ha, oilseeds in 1.88 lakh ha, sugarcane in 44.38 lakh hectare and cotton in 12.25 lakh ha.

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

Lakh hectare 

CropArea sown in 2016-17Area sown in 2015-16Rice9.1710.19Pulses3.324.53Coarse Cereals6.017.19Oilseeds1.882.92Sugarcane44.3841.58Jute & Mesta7.217.56Cotton12.2519.66Total84.2193.63

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Safeguarding the interests of sportspersons and provision of effective Grievance Redressal System in the Constitution of National Sports Federations
Jun 17,2016

Ministry of Youth Affairs and Sports has advised all National Sports Federations (NSFs) to consider that :

(i) an effective, transparent and fair grievance redressal system and mechanism is provided by each NSF in its constitution/bye-laws for expeditious settlement of any disputes arising between the sports persons and/or support personnel and its various committees constituted for any special task; and

(ii) a specific provision is made by each NSF in its constitution/bye-laws to the effect that any sports person and/or support personnel aggrieved by any decision or action of an International Sports Association/ Federation imposing any penalty or punishment by way of disciplinary action or otherwise may raise that dispute before the Court of Arbitration for Sports (CAS) and/or the International Council of Arbitration for Sports (ICAS) either by himself/herself or through the NSF concerned.

Background

The Government of India has been, from time to time, taking various steps and initiatives to promote good governance practices in the management of sports at the national level. These are based on the Basic Universal Principles of Good Governance of Olympic and Sports Movement and do not interfere with the autonomy of National Sports Bodies, in discharging their functions and duties in accordance with the International Olympic Committee Charter. The Ministry of Youth Affairs and Sports recognizes one sports federation at the national level for each sports being played in the country. The NSFs are, in turn, responsible for promotion of the sports concerned and for participation of sportspersons playing these sports in international and national events. The Government supplements the efforts of these recognized National Sports Federations (NSFs) by providing them necessary financial assistance and various infrastructural and other facilities. However, the Government does not interfere with the internal functioning of these NSFs, duly recognizing their character, which owe their origin in their registration as societies, associations or companies, etc., under the relevant laws. These NSFs are expected to carry out, as per their own constitutions/bye-laws, their day-to-day activities and functions of promoting the sports concerned and safeguarding the interests of sports persons and other support staff including coaches, referees, etc., involved in these sports. The Government, however, has laid down certain guidelines which the recognized NSFs have to observe and follow for securing recognition by the Government as NSFs. For their convenience, these guidelines have all been codified in the National Sports Development Code of India (NSCI) 2011, which has been effective from 31st January, 2011.

One of the important guidelines contained in the said NSCI lays special emphasis on the provision of an effective system and mechanism in the constitutions/bye-laws of the NSFs for expeditious redressal of the grievances of the sportspersons and others involved in the sports concerned. Despite such specific emphasis on the above aspect in the NSCI, disputes often arise between the sportspersons and the managing committees, organizational committees, selection committees, etc., of NSFs, where the affected persons feel aggrieved and often approach the Honble High Courts seeking redressal of their grievances. In almost all such cases, the experience has shown that this Ministry is also unnecessarily made a party and impleaded as a respondent, though this Ministry has hardly any role to play in the settlement of such disputes which are basically internal matters of the NSFs concerned.

Apart from the above, instances have also come to the notice of this Ministry where certain sports persons/coaches and others participating in international events, organized by the international controlling bodies of those sports, have been unjustly penalized or subjected to harsh disciplinary proceedings for trifling faults on their part. In such cases, it has been found that no mechanism has been provided in the constitutions of the NSFs for taking of these matters either by the affected sportspersons or NSFs concerned to the Court of Arbitration for Sports (CAS), and/or the International Council of Arbitration for Sports (ICAS) both situated at Lausanne, Switzerland, and which are the highest bodies at the international level to resolve sports-related disputes through arbitration and mediation. An examination of the constitution of the CAS and ICAS shows that these bodies entertain disputes only if the federations, associations or other sports related bodies, at the national and international levels, make specific provisions in their regulations for referring such matters to them or agree to such reference by specific agreement.

One such incident of an Indian sports person being harshly penalized by an International Sports Association took place recently attracting nation-wide attention and which was even taken to the Honble Delhi High Court by way of Writ Petition (C) No.8730 of 2014 (Rajiv Dutta Vs. Union of India and Ors.), as that matter could not be taken to the CAS for want of necessary provision in the constitution of the NSF concerned. While disposing of the said writ petition, the Honble Delhi High Court, by its order dated 15th January, 2016, directed this Ministry to consider the prayer of the petitioner that it is essential to ensure incorporation of a specific provision by the NSFs in their constitutions/bye-laws for dispute settlement of such matters by the CAS/ICAS.

Having considered the matter in its entirety, Department of Sports has issued the above mentioned advise to all NSFs.

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Non Resident Indians (NRIs) can now join and subscribe to NPS online through eNPS
Jun 17,2016

NRIs have a pivotal role to play in the Indian economy. India has the second-largest Diaspora in the world, with around 29 million people living in over 200 countries and out of these 25% live in the Gulf countries. Most of the Indians going to the Gulf and some other countries go for employment and return to India after having worked abroad for a certain period.

NPS can provide a long term solution to their old age income security. NPS has been available to NRIs for some time through Bank offices and now, to further ease the process of joining, eNPS is being extended to Non-Resident Indian subscribers.

NRIs can now open NPS Accounts online if they have Aadhaar Card or PAN card

Till now, NRIs could open NPS accounts only through paper applications by approaching Bank offices but this has now changed. Through eNPS, a subscriber will be able to open an NPS account from the comfort of his home. All he will need is an internet connection and an Aadhaar/ PanCard.

Further, NRIs will be able to open NPS accounts both on Repatriable and on Non Repatriable basis. On a Repatriable basis, an NRI will have to remit the amount through his/her NRE/FCNR/NRO account.

For Non-Repatriable scheme, NRIs will be able to join NPS through their NRE/FCNR/NRO accounts at the time of maturity or during partial withdrawal, the NPS funds would be deposited only in their NRO accounts.

Both Repatriable and Non-Repatriable schemes will greatly appeal to NRIs who intend to return to India after their employment abroad, in view of their attractive returns, low cost, flexibility and their being regulated by the PFRDA, a Regulator established by the Central Government .

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Parliament Standing Committee on Personnel, Public Grievances, Law and Justice to visit Bengaluru, Chennai and Bhopal
Jun 17,2016

The Department-related Parliament Standing Committee on Personnel, Public Grievances, Law and Justice will visit Bengaluru, Chennai and Bhopal beginning 20th June, 2016. The committee consisting of 28 MPs will be chaired by Dr E.M.S. Natchiappan.

During the visit, the Committee will hold meeting with the representatives of recognised political parties and Chief Electoral Officer (CEO) of the state on implementation of Model Code of Conduct for Political Parties during General Elections. The members will also meet the representatives of State Governments, State Public Service Commission and Administrative Training Institute and Indian Institute of Management in the respective states, on the subject of appointment of advisors/experts in Government establishments.

During visit to Bengaluru, the committee will visit the National Law School of India University and hold interaction with Christ University School of Law, Law Academies, Law firms including State Judicial Academy, Bar Council of Karnataka and University Law College, Bangalore University on n++Promotion of Legal Education and Research under the Advocates Act, 1961n++. The Committee will also hold meeting with State Bank of Mysore, Vijaya Bank, Aeronautical Development Establishment, Hindustan Aeronautics (HAL), Bharat Sanchar Nigam (BSNL) and National Small Industries Corporation on the n++Status of implementation of Public Grievance Redressal Mechanism, Vigilance Administration and Right to Information Actn++.

In Chennai, the committee will visit the Tamil Nadu Dr Ambedkar Law University and hold discussions on n++Promotion of Legal Education and Research n++. The committee will also hold meeting with representatives of Bharat Petroleum Corporation (BPCL), Indian Overseas Bank, Bharatiya Nabhikiya Vidyut Nigam (BHAVINI), National Thermal Power Corporation, Neyveli Lignite Corporation, Nuclear Power Corporation of India (NPCIL) and Airports Authority of India on the n++Status of implementation of Public Grievance Redressal Mechanism, Vigilance Administration and Right to Information Actn++.

During its visit to Bhopal, the committee will hold discussion with Gas Authority of India (GAIL), Northern Coalfields Limited, National Buildings Construction Corporation (NBCC), Metals and Minerals Trading Corporation of India (MMTC), Metallurgical & Engineering Consultants (MECON), Bharat Coking Coal Limited and Oriental Insurance Company on the n++Status of implementation of Public Grievances Redressal Mechanism, Vigilance Administration and Right to Information Actn++. The committee will also visit the National Judicial Academy of India, Bhopal and hold interaction on Promotion of Legal Education and Research.

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Regular Review Meetings being held to monitor payment and settlement crisis in National Spot Exchange Limited (NSEL)
Jun 17,2016

The matter relating to violations of law, criminal offences and default in payments to investors on the platform of National Spot Exchange (NSEL) is engaging the serious attention of the Government. Investigations and other enforcement measures are being taken by the Economic Offences Wing (EOW) of Mumbai Police, Enforcement Directorate (ED), Securities and Exchange Board of India (SEBI), Financial Intelligence Unit - India (FIU-IND) and Ministry of Corporate Affairs (MCA). The progress of these activities is being monitored in the Department of Economic Affairs (DEA),Ministry of Finance through Review Meetings. So far, eleven such meetings have taken place. The last such Review Meeting was held on 06 June 2016 under the Chairmanship of Shri Shaktikanta Das, Secretary (Economic Affairs),Ministry of Finance.

The latest status with regard to some of the important aspects of the case and the key decisions taken in the Review Meeting are as under:

n++ Government of Maharashtra has issued fifth Gazette notification on 17 March 2016 for attachment of 151 properties worth Rs. 358.46 Crores approximately. Till date, five Gazette notifications have been issued in respect of attachment of assets worth Rs. 6115.25 Crores approximately.

n++ MCA is working on the merger / amalgamation of NSEL with Financial Technologies (India) (FTIL). Bombay High Court had granted extension of time up to 15 February 2016 to MCA for taking final view on the draft order of the amalgamation. MCA issued the final Order on 12.2.2016 for the merger of NSEL with FTIL. Honble Bombay High Court, however, has restrained the Government from notifying the final Order dated 12 February 2016 in the Gazette. In the review meeting, MCA was requested to take quick action and ensure that the case is handled on priority. Further, it was advised that a senior officer should visit Mumbai to follow up on the Court case.

n++ The Enforcement Directorate had filed a prosecution complaint before the City Civil Court And Additional Sessions Judge, Greater Bombay on 30 March 2015 against NSEL and 67 other accused persons under the Prevention of Money Laundering Act, 2002 (PMLA). The prosecution complaint details money trail amounting to Rs. 3721.22 crores. The next date of hearing is on 7 July 2016. It was pointed out to the Directorate that the violation of PMLA is a serious offence and therefore, the Directorate should be more proactive and take effective action quickly.

n++ FIU-IND passed an Order on 4.11.2015 under section 13 of the PMLA imposing a penalty of Rs. 1.66 crores on the NSEL for non-compliance of the Act. NSEL has gone in appeal in the PMLA Tribunal against the Order passed by Director, FIU-IND. Besides this, Show Cause Notices have been issued to officials / Directors concerned of NSEL. FIU-IND was advised that all out efforts may be made to ensure realisation of the penalty at the earliest.

n++ As decided in the previous review meeting, Government of Maharashtra is working on proposals for providing additional manpower for Economic Offence Wing of Mumbai Police which is investigating the NSEL case on an urgent basis; augmenting the number of Designated Courts under the Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999; and deployment of full time competent authorities for dealing exclusively with NSEL related work.

n++ Action has been initiated by the Government of Maharashtra to auction attached properties. The State Government was advised that it may closely monitor the progress of the investigation / prosecution by the EOW, Mumbai Police with a view to expediting the refund of the lost investment of public. The auction of attached properties needs to be expedited and the money realised may be returned to the investors at the earliest following the due procedure.

n++ SEBI has appointed empanelled auditors to conduct detailed inspection of books of five brokers of the erstwhile Forward Markets Commission whose names figure in the list of offenders received from EOW, Mumbai Police. SEBI was asked to get the audit of the books of brokers carried out in a comprehensive manner and expedite necessary action under law.

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CII welcomes notification of new UGC norms for setting up deemed universities
Jun 17,2016

The Confederation of Indian Industry (CII) has welcomed the new UGC (Institutions Deemed to be Universities) Regulation 2016 which has once again opened the doors for both public and private institutions, having outstanding track record, to gain autonomy by becoming deemed to be universities. According to CII Director-General, Mr Chandrajit Banerjee, with the notification of new norms by the ministry of human resource development, there will be scope for several new universities to be established in a short period of time.

n++There are numerous institutions of proven track record which are unable to grow independently the way they want to because of lack of autonomy. With the notification of new UGC norms, such institutions will get the opportunity to excel themselves and take higher education in India to newer heights,n++ said Mr Banerjee.

The removal of stipulation of minimum land requirement for setting up a university and the removal of cap on setting up off-campuses were both extremely progressive steps which will go a long way in opening up of the sector and attracting more players to offer high quality higher education in India, he said.

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Indias pharma exports may reach $20 bn by 2020: Study
Jun 17,2016

Export of pharmaceutical products from India is likely to cross $14. billion (bn) mark this year and may reach about $20 bn by 2020, thereby registering a compounded annual growth rate (CAGR) of about eight per cent, according to an ASSOCHAM-TechSci Research joint study.

n++However, growth in pharmaceutical products exports from India may decline by almost half i.e. from the level of CAGR of about 15 per cent clocked during 2010-14 to about eight per cent during 2015-2020 on account of delay in regulatory approvals in top markets of the US, Russia, Africa and others,n++ highlighted the study titled IPR in pharmaceuticals: Balancing, innovation and access, jointly conducted by ASSOCHAM and TechSci Research.

n++Consolidation of pharmacy players is leading to an increase in pricing pressures for generic companies existing in the US market which is expected to result in decline in year-on-year growth of pharmaceutical exports from India over next five years,n++ highlighted the ASSOCHAM-TechSci Research study.

Besides, a steep decline in currency in emerging markets like Africa, Russia, Ukraine and Venezuela is expected to add woes to drug manufacturing companies that supply pharmaceutical drugs to that region and are unable to generate high revenues on account of selling their drugs at a low priced currency.

India is the largest supplier of medicine to the US. Pharmaceutical exports from India to the US rose from $3.4 bn in 2013 to $3.7 bn in 2014, mainly due to increasing demand for high quality generic drugs in the market.

However, growth rate for exports of pharmaceutical products from India to the US is declining, due to increasing US Food and Drug Administration (USFDA) scrutiny on the quality of pharma products coming from drug manufacturing plants located in India.

In order to boost growth rate of exports to the US, Indian companies will need to leverage their compliance to the USFDA regulations.

The exchange rate crisis in the country is affecting pharmaceuticals market in Russia. As such, stabilization of currency is of utmost importance in generating revenues through exports.

In addition, many Indian companies are operating through the Pharmaceutical Benefits Program (PBP) and hospital tenders, for supplying vital and essential drugs, for which prices are then regulated by the Russian government.

Similarly, Indias exports of pharmaceuticals to Africa are being affected due to port delays and prolonged custom valuation.

n++Pharmaceuticals exports are a major factor contributing to growth of this industry in India with the US and few fast growing markets like Brazil, Mexico, Russia, South Africa and in South-East Asia emerging as the main export markets for generic drugs,n++ said Mr D.S. Rawat, secretary general of ASSOCHAM while releasing the study.

n++Indias pharmaceutical industry has transformed from being mainly a generic manufacturer to providing complex drug formulations to foreign markets thereby registering a significant growth,n++ said Mr Rawat.

n++Pharmaceutical market in India is being driven by rapid socio-economic changes, rising sedentary lifestyle amid people and expected growth in number of people suffering from obesity, diabetes, cardiac problems and other related ailments,n++ he added.

Further, with a view to benefit and drive the growth of pharmaceutical research and innovation in India, the ASSOCHAM-TechSci Research study has recommended for data protection to be introduced as an Intellectual Property Right.

It has also suggested for digitisation of IPR for pharmaceuticals in India to strengthen online processing and maintenance of information database thereby making the process more systematic and convenient.

Though it would require allocation of more personnel for patent examinations and training sessions to be organised as part of resource development module, the study has emphasised that efficient management of IPR filings would help in building a stronger IPR framework in India.

Indias pharmaceutical market may reach $20 bn this year and about $55 bn by 2020 from about $18 bn as of 2014 thereby clocking a compounded annual growth rate (CAGR) of over 22 per cent.

Pharmaceutical sector in India will register higher growth during the course of next five years (22 per cent) as compared to a CAGR of about 14 per cent clocked by the sector during 2010-14.

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Demand for OPEC crude for 2016 remained unchanged and is projected to increase by 1.8 mb/d to average 31.5 mb/d
Jun 17,2016

OPEC Monthly Oil Market Report

Crude Oil Price Movements

The OPEC Reference Basket averaged $43.21/b in May, representing a gain of $5.35 over the previous month. ICE Brent ended up $4.31 at $47.65/b, while Nymex WTI rose $5.67 to $46.80/b. The ICE Brent-Nymex WTI spread narrowed significantly to 85n++/b in May from $2.21/b the month before.

World Economy

World economic growth is forecast at 3.1% for this year, after estimated growth of 2.9% the year before, both unchanged from the previous month. OECD growth in 2016 remains at 1.9%, slightly below the 2.0% seen in 2015. The forecast for the major emerging economies remains unchanged. China and India continue to expand this year at a considerable level of 6.5% and 7.5%, respectively. Brazil and Russia, however, are forecast to remain in recession this year, contracting by 3.4% and 1.1%, respectively.

World Oil Demand

World oil demand growth for 2016 remains unchanged from the previous report at 1.20 mb/d to average 94.18 mb/d. Other Asia, led by India, is anticipated to be the main contributor to oil demand growth in 2016. Similar to 2015, transportation fuels, supported by healthy vehicle sales and the low oil price environment, are projected to provide the bulk of expected growth. The 2015 growth estimate was also left unchanged at 1.54 mb/d to average 92.98 mb/d.

World Oil Supply

The forecast for non-OPEC oil supply in 2016 remains unchanged, with a contraction of 0.74 mb/d expected to average 56.40 mb/d. The downward revisions in Canada, Brazil and Colombia broadly offset upward revisions in the US, UK, Russia and Azerbaijan. Non-OPEC supply growth in 2015 was left unchanged at 1.47 mb/d. OPEC NGLs and non-conventionals are expected to increase by 0.16 mb/d to average 6.29 mb/d this year. In May, secondary sources show OPEC crude oil production decreased by 0.1 mb/d to average 32.36 mb/d.

Product Markets and Refining Operations

The high level of inventories in light and middle distillates, along with the approaching end of the spring maintenance season, offset the potential impact from events in Canada and France. This caused margins to edge lower in the Atlantic Basin, despite stronger gasoline demand in the region. Meanwhile, in Asia, refinery margins showed a slight recovery on the back of stronger regional gasoline and gasoil demand amid a peak in refinery maintenance.

Tanker Market

Sentiment in the dirty tanker market was generally weak in May. VLCC and Suezmax spot freight rates declined on the back of light tonnage demand and increased tanker availability. However, Aframax spot freight rates improved. Clean tanker freight rates declined on average, as a result of low freight rates reported for West of Suez. In May, global chartering activities dropped and sailings from the Middle East, and OPEC more broadly, were lower month-on-month.

Stock Movements

OECD commercial oil stocks rose slightly in April to stand at 3,046 mb. At this level, OECD commercial oil stocks are around 338 mb above the latest five-year average, with crude indicating a lower surplus of 194 mb and products broadly flat at 144 mb. In terms of days of forward cover, OECD commercial stocks stood at 66.4 days, some 7.1 days higher than the five-year average.

Balance of Supply and Demand

Demand for OPEC crude in 2016 is projected at 31.5 mb/d, unchanged from the last report and 1.8 mb/d higher than last year. For 2015, demand for OPEC crude is also unchanged, averaging 29.7 mb/d, which represents a decline of 0.1 mb/d from the previous year.

Estimate for 2015

Demand for OPEC crude for 2015 remained unchanged from the previous month to stand at 29.7 mb/d, representing a decline of 0.1 mb/d from the 2014 level. All quarters remained unchanged. 1Q15 fell by 0.8 mb/d, while 2Q15 and 3Q15 remained flat versus the same quarters last year. 4Q15 rose by 0.4 mb/d y-o-y.

Forecast for 2016

Demand for OPEC crude for 2016 remained unchanged from the previous MOMR and is projected to increase by 1.8 mb/d to average 31.5 mb/d. Within the quarters, both 1Q16 and 4Q16 were revised down by 0.2 mb/d and 0.1 mb/d, respectively, while 2Q16 was revised up by 0.1 mb/d. 3Q16 remained unchanged. 1Q16 and 2Q16 are expected to increase by 1.0 mb/d and 2.1 mb/d, respectively, while 3Q16 and 4Q16 are both projected to increase, rising by 2.2 mb/d and 1.8 mb/d, respectively.

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Storage status of 91 major Reservoirs of the country was 15% of total storage capacity as on June 16, 2016
Jun 17,2016

The water storage available in 91 major reservoirs of the country for the week ending on June 16, 2016 was 23.786 BCM which is 15% of total storage capacity of these reservoirs. This was 57% of the storage of corresponding period of last year and 80% 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 4.12 BCM which is 23% 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 29% 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 3.25 BCM which is 17% 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 16% of live storage capacity of these reservoirs. Thus, storage during current year is less than the corresponding period of last year but better 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 2.96 BCM which is 11% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 20% 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 8.59 BCM which is 20% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 30% and average storage of last ten years during corresponding period was 14% 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 4.86 BCM which is 9% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 22% and average storage of last ten years during corresponding period was 19% 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 and Kerala. States having lesser storage than last year for corresponding period are Himachal Pradesh, AP&TG (Two combined projects in both states), Punjab, West Bengal, Jharkhand, Odisha, Gujarat, Maharashtra, Uttar Pradesh, Uttarakhand, Madhya Pradesh, Chhattisgarh, Telangana, Tamil Nadu and Karnataka.

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