Press Information Bureau
Government of India
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Ministry of Home Affairs
Extension of `Rehabilitation Package' to provide relief to the victims of 1984 riots announced earlier on 16.1.06 by the Central Government to the left out States/Union territories – fulfillment of the assurances given by the Government in both the Houses of Parliament on the Report of Justice Nanavati Commission of Inquiry into 1984 riots.
New Delhi: September 10, 2009
The Government of India had approved a "Rehabilitation Package" to provide additional relief to the victims of 1984 riots with a financial outlay of Rs.714.76 crore. The said Package was issued vide Ministry of Home Affairs letter No.U-13018/46/2005-Delhi-I(NC) dated 16.1.2006. The aforesaid Package was addressed to the State Governments of Uttar Pradesh, Madhya Pradesh, Chhatisgarh, Haryana, Bihar, Jharkhand, J&K, Himachal Pradesh, Orissa, Maharashtra, Uttarakhand, Punjab and NCT of Delhi.
Background :
The main aim of the proposal is fulfill the assurances given by the government in both the Houses of Parliament on the Report of Justice Nanavati Commission of Inquiry into 1984 riots.
Implementation strategy & target :
After approval of the proposal by the Cabinet, necessary instructions will be issued immediately to the concerned State Governments/Union Territory Administration for implementation of the decision of the Union Cabinet.
Major impact :
Assurances given by the Government in both the Houses of Parliament on the Report of Justice Nanavati Commission of Inquiry into 1984 riots will be fulfilled.
akt/hs/sh/lv/dk/kol/15:23 hrs
Press Information Bureau
Government of India
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Ministry of Finance
Release of Interest Subvention to Public Sector Banks (PSBs), Cooperative Banks (Short Term Cooperative Credit Structure-STCCS) and Regional Rural Banks (RRBs) and to NABARD for refinance to RRBs and Cooperative Banks to operationalise the Budget announcement 2009-10 for ensuring that the farmer receives short term crop Loan at 7% p.a. (6% for prompt payers) with an upper limit of Rs.3,00,000/-on the principal amount.
New Delhi: September 10, 2009
Since 2006-07 the Government has been providing interest subvention to farmers so that the short term crop loans are available to them @7% per annum upto a limit of Rs.3 lakh per farmer.
The Interest subvention is available to Public Sector Banks, Regional Rural Banks (RRBs) and Cooperative Credit Institutions (CCIs) on disbursements out of their own funds and to NABARD for concessional refinance to RRBs and CCIs.
For the year 2008-09 the Government is providing interest subvention to these banks @ 3% p.a. on their own funds, besides giving subvention to NABARD, and the total financial implication for the year 2008-09 has been estimated at Rs.4,311 crore.
For the year 2009-10, the target for flow of credit to agriculture sector has been revised from Rs.2,80,000 crore in 2008-09 to Rs.3,25,000 crore, of which the total short term crop loan disbursements by all banks is likely to be around Rs.2,00,000 crore.
For this year, the Government has decided to continue the ongoing Interest Subvention Scheme with the provision of interest subvention @ 2% to the banks on their own funds, besides giving concessional refinance through NABARD to RRBs and CCIs.
Refinance will be made available to RRBs at 4.5% and to CCIs at 4% so that they can lend to farmers at 7%.
The subvention would be available to farmers for a period of one year.
Besides this, the Government has also decided to give an additional interest subvention @ 1% to prompt paying farmers, which would bring down the rate of interest to 6% p.a. for them on their short term crop loan requirement.
The total cost of interest subvention for the year is estimated at Rs.4,000 crore.
akt/hs/sh/lv/dk/kol/15:24 hrs
Press Information Bureau
Government of India
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Ministry of Finance
Release of additional instalment of dearness allowance to Central Government employees and dearness relief to Pensioners, due from 1.7.2009
New Delhi: September 10, 2009
The Cabinet has decided to release an additional instalment of Dearness Allowance (DA) to Central government employees and Dearness Relief (DR) to pensioners w.e.f. 1.7.2009 representing an increase of 5% over the existing rate of 22% of the Basic Pay/Pension, to compensate for price rise. The increase is in accordance with the accepted formula, which is based on the recommendations of the 6th Central Pay Commission. The combined impact on the exchequer on account of both dearness allowance and dearness relief would be of the order of Rs.4355.35 crore in a full year and Rs.2903.55 crore in the financial year 2009-2010 (for a period of 8 months from July, 2009 to February, 2010).
akt/hs/sh/lv/dk/kol/15:24 hrs
Press Information Bureau
Government of India
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Ministry of Finance
1% interest subvention on housing loans upto Rs.10 lakh
New Delhi: September 10, 2009
The Cabinet today approved the Scheme of 1% interest subvention on housing loans up to Rs.10 lakh and the allocation of a sum of Rs.1000 crore for the Scheme.
Point-wide Details
• Interest subvention of 1 percent will be made available on individual housing loans upto Rs.10 lakh for construction / purchase of a new house or extension of an existing house provided the cost of the construction/price of the new house/extension does not exceed Rs. 20 lakh.
• The Scheme will be implemented through Scheduled Commercial Banks (SCBs) and Housing Finance Companies (HFCs) registered with the National Housing Bank (NHB).
• The first twelve instalments of all such loans sanctioned and disbursed during the period of twelve months from the date of publication of the scheme will be eligible for interest subvention.
• Subsidy of one percent will be computed for 12 months on disbursed amount and adjusted upfront in the principal outstanding irrespective of whether the loan is on fixed or floating rate basis.
• Reserve Bank of India (RBI) will be designated the nodal agency for SCBs and National Housing Bank (NHB) will be designated the nodal agency for HFCs.
Background
There has been a notable deceleration in the sectoral flow of credit to the housing sector which is attributable to increase in the price of houses, slackening of income growth and a rise in interest rates for housing loans.
The Finance Minister in his reply to the debate on the Finance Bill in the Lok Sabha on 27th July, 2009 made the announcement that housing, particularly lower and middle income housing, deserved to be supported. In order to stimulate this segment of house owners, he proposed to provide support to borrowers by way of interest subvention of 1% on all housing loans up to Rs.10 lakh to individuals, provided the cost of the house does not exceed Rs.20 lakh.
Implementation Strategy and targets
All Scheduled Commercial Banks (SCBs) and Housing Finance Companies (HFCs) will submit a monthly consolidated return to the Reserve Bank of India (RBI) and National Housing Bank (NHB) respectively, specifying interest subvention given.
The nodal agencies will put up a demand to the Government of India for release of subsidy amount and the Government of India in turn will sanction and release the subsidy amount based on demand received.
The number of beneficiaries covered under the scheme will depend, interalia, upon the size of the loan amount and the number of beneficiaries approaching the nodal agency for interest subvention. Being a demand driven scheme no specific targets for coverage of beneficiaries have been fixed.
Major Impact:
It is expected that cut in interest rates should reduce Equated Monthly Instalments (EMIs) of borrowers and create additional demand for housing. This in turn should stimulate demand in construction industry as well as industries such as steel & cement having employment potential and income multiplier effect.
Expenditure involved:
An amount of Rs.1000 crore will be allocated in the Budget for the year 2009-10 for implementation of the Scheme.
No. of beneficiaries:
On a housing loan of Rs.10 lakh, the 1% interest relief available wil amount to Rs.10,000/- per account. As such, the Scheme of a size of Rs.1000 crore is expected to cover 10 lakh beneficiaries in one year period.
States/Districts covered:
The scheme will cover all States & Union Territories of the country, including rural & urban areas.
akt/hs/sh/lv/dk/kol/15:25 hrs
Press Information Bureau
Government of India
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Ministry of Commerce & Industry
Formation of a Joint venture company "Invest India" for promotion of Foreign Investment
New Delhi: September 10, 2009
The Cabinet today has approved the proposal of the Department of Industrial Policy & Promotion, Ministry of Commerce & Industry for the formation of a company 'Invest India' under Section 25 of the companies Act, 1956, for promotion of foreign investments during the XI Five Year Plan. The proposed company which will be a joint venture between the Government of India, Federation of Indian Chambers of Commerce and Industry and the State Governments will be responsible for promoting Foreign investments into the country in a more focussed, comprehensive and structured manner. It will assist the Government in its efforts towards projecting India as an attractive investment destination for foreign investors and the foreign investors in identifying and realizing investment opportunities in India.
akt/hs/sh/lv/dk/kol/15:25 hrs
Press Information Bureau
Government of India
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Ministry of Steel
Restructuring of Bird Group of Companies under Ministry of Steel
New Delhi: September 10, 2009
The Cabinet today approved the restructuring of Bird Group of Companies (BGC) under Ministry of Steel. The restructuring proposal envisages converting companies under BGC into Government companies / PSUs and vesting their management control of RINL in a subsidiary cum holding structure in order to make these companies economically viable and sustainable. The government loan and accrued interest thereon would be waived off. The commercially unviable companies would be wound up and their employees will be adjusted in other sister companies under the Group or would be offered VRS. The restructuring proposal is mutually beneficial to both RINL and BGC.
Point-wise details - The brief of the restructuring proposal is as under: (i) Orissa Minerals Development Company Limited (OMDC) and Bisra Stone Lime Company Limited (BSLC) will be made subsidiary Companies of Eastern Investment Limited (EIL).
(ii) EIL will be made a subsidiary of RINL thus bringing EIL, OMDC and BSLC under the umbrella of RINL.
(iii) Winding up of Karanpura Development Company Limited (KDCL) and Scott & Saxby Limited (SSL). The employees will be adjusted in OMDC / BSLC or will be offered VRS.
(iv) Conversion of principal amount of government loan (Rs.86.79 crore) given to BSLC into equity and waiver of outstanding interest accrued thereon (Rs.624.20 crore as on 31.3.2009).
(v) Write off of the principal amount of loan given to KDCL and its subsidiary SSL (Rs. 8.06 crore) along with outstanding interest accrued thereon (Rs. 96.43 crore as on 31.3.2009).
Background:
There are five operational companies under BGC namely EIL, OMDC, BSLC, KDCL and SSL. The companies under BGC are age old companies and Government of India acquired shares in the above companies by virtue of an Ordinance and later an Act called 'The Bird and Company Limited (Acquisition and Transfer of Undertaking and Other Properties) Act, 1980' and their administrative control were vested in the Ministry of Steel. These Companies are in the nature of Government managed Companies.
EIL is an investment company having major shareholding stake in the three mining companies under the group namely OMDC, BSLC and KDCL. OMDC and BSLC posses significant assets in terms of operation of mining leases of iron ore, manganese ore, limestone and dolomite, which are essential raw material for the steel companies. SSL, a wholly owned subsidiary of KDCL is engaged in sinking of deep tube wells and mineral exploration activities.
At the time, the Companies under the banner of Bird Group came under the administrative control of the Ministry of Steel, Government of India, all the Companies were in adverse financial position and not doing well commercially. The Government has been supporting these companies with the financial support from time to time for resolving outstanding issues such as rationalization of excessive manpower, erosion of working capital and wage liabilities. However, the performances of these companies except OMDC have not shown desired improvement. These companies continued suffering with the problems of weak financials, weak management structure, practices and control, lack of proper utilization of available resources, etc., which necessitated for restructuring of these companies to make them commercially viable and sustainable.
Major Impact -
The restructuring of BGC and their association with RINL, will be mutually beneficial as this would address the need of raw material security for RINL and BGC have the benefit of organization culture, technology and managerial expertise available in RINL and access to the much needed capital for value addition projects and for optimizing their production and productivity.
The restructuring is further intended to consolidate EIL, OMDC and BSLC into government Companies / PSUs in a subsidiary structure in order to strengthen their management, oversight over these companies (through regular audits) and subject them to general rules and guidelines of Department of Public Enterprises (DPE). Manpower planning and resource utilization in these companies will be streamlined for greater transparency and public accountability.
Implementation Strategy and targets:
The process for restructuring will be initiated immediately. Concerned Ministries / Departments and SEBI will be approached for necessary approvals involved in the process of restructuring.
Expenditure involved:
There is no cash infusion on part of the Government of India in converting OMDC and BSLC into subsidiary of EIL and on making EIL (and also OMDC and BSLC) a subsidiary of RINL.
No. of beneficiaries -
Restructuring would help OMDC and BSLC financially grow, benefiting their employees besides helping economic development of the region including peripheral economy surrounding mine leaseholds. Restructuring would also help RINL setting up downstream projects / value addition plants adding to employment generation and development of the region.
States / Districts covered:
Keojhar and Sundergarh Districts of Orissa where OMDC and BSLC operate their mining leaseholds.
akt/hs/sh/lv/dk/kol/15:25 hrs
Press Information Bureau
Government of India
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Ministry of Textiles
Allocation of Rs.1473 crore under Non-Plan Grant to meet the losses in disposal of Cotton procured under Minimum Support Price (MSP) Operations by the Cotton Corporation of India(CCI)
New Delhi: September 10, 2009
In recognition of the importance for assuring a reasonable price to cotton farmers, motivating them to adopt improved technology and to promote investment in farm enterprises, Minimum Support Price (MSP) is fixed by the Government of India and the same is perceived by the cotton growers as a guarantee price for their produce.
The implementation of the decision will not only ensure remunerative returns to the cotton growers without quantitative restriction and devoid of exclusion but will also enable the Cotton Corporation of India (CCI) for smooth conduct of MSP Operations during the cotton season 2008-09. It will also enable the CCI to meet anticipated losses to be incurred on procurement of raw cotton from the farmers.
akt/hs/sh/lv/dk/kol/15:26 hrs
Press Information Bureau
Government of India
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Ministry of Civil Aviation
Nepal & India sign MoU for revised ASA
New Delhi: September 10, 2009
Highlights:
· Capacity increased to 30,000 seats from week from existing 6000 seats per week.
· Nepal not only accepted the SAARC offer of India, after discussions, it has been agreed by both sides to further liberalise the entitlements contained in the SAARC offer.
· MoU for a revised ASA was signed based on the ICAO template.
· A technical agreement was also signed between the Nepal civil aviation authority and the (AAI) which is also a part of the MOU.
· Importantly three new points have been granted to Nepal, namely Dehradun, Gorakhpur and Bagdogra and for India, Pokhara, Lumbini, Biratnagar, Nepalgunj, Jankpur, Dhangadi and Bhairava have been added.
The delegations representing the Government of India and the Government of Nepal met in New Delhi on 8-9 September, 2009 for consultations on air services matters.
Recognising that the Air Services Agreement (ASA) between the Government of Nepal and the Government of India initialed on 5th June, 1997 needed to be revised in the wake of developments which have taken place in the aviation industry since then, the two delegations finalized and initialed the text of a revised Air Services Agreement.
Pending formal approval of the Air Services Agreement by the respective governments of the two countries, both delegations agreed to implement the same on provisional basis with immediate effect.
Regarding the revised Route Schedule, the Nepalese delegation stated that barring Kathmandu, there is no other airport in Nepal, which is suitable for operation of international flights. As such, the designated airlines of India would be in a position to operate to these points as and when these airports are made available for international operations. The Indian delegation expressed similar views in regard to operations by the designated airlines of Nepal to Dehradoon and Gorakhpur, while Bagdogra is operational.
The Nepalese delegation accepted the SAARC offer made by the Government of India in March, 2006. However, after discussions, it was agreed by both sides to further liberalise the entitlements contained in the SAARC offer. Accordingly, both delegations agreed to the following revised capacity entitlements: -
The designated airlines of each side shall be entitled to operate 30,000 seats per week to/from the points specified in Route I of Section I and Section II of the Route Schedule with any type of aircraft.
Within their overall capacity entitlements, the designated airlines of Nepal shall be entitled to operate not exceeding 10,000 seats per week to/from Mumbai and Bangalore each and not exceeding 15,000 seats per week to/from Delhi. This restriction shall cease to apply with effect from 1st January, 2011.
The designated airlines of each side shall be entitled to operate any number of services with any type of aircraft to/from points specified in Route II of Section I and Section II of the Route Schedule.
The designated airlines of each side may exercise unlimited intermediate or beyond fifth freedom traffic rights to/from any points within the SAARC Region.
The designated airlines of each side shall be permitted to exercise beyond fifth freedom traffic rights to/from the three points, other than the points in the SAARC region, specified in the Route I of Section I and Section II of the Route Schedule. However, the designated airlines of both sides may exercise beyond fifth freedom traffic rights to/from points other than the points in the SAARC Region, on not more than seven flights per week in each direction to/from each point.
The designated airlines of each Party shall be entitled to operate any number of all-cargo services between each other's territory with any type of aircraft with full 3rd, 4th and 5th freedom traffic rights. Such all-cargo services may also be operated under co-operative marketing arrangements such as code sharing blocked space etc.
The delegations took note of the Technical Co-operation Agreement signed between the Airports Authority of India and the Civil Aviation Authority of Nepal. Both sides agreed to take further action for implementation of this Agreement.
The Indian side reiterated its request that permission for the deployment of sky marshals on the flights operated by the designated airlines of India to/from Nepal may be expedited. The Nepalese side took note of the request and informed that the matter had already been referred to the appropriate authority of the Government of Nepal. The Nepalese side will pursue the matter.
This Memorandum of Understanding shall super cede all previous arrangements to the extent applicable and shall come into force with immediate effect.
The Indian delegation was led by Shri Mr. M. Madhavan Nambiar, Secretary, Ministry of Civil Aviation, Government of India, and the Nepalese side was led by Shri Nagendra Prasad Ghimire, Secretary, Ministry of Tourism & Civil Aviation, Government of Nepal.
mc/mk/dk/kol/15:26 hrs
Press Information Bureau
Government of India
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Ministry of Health and Family Welfare
Recognition of Sowa-Rigpa – Amendment of the Indian Medicine Central Council Act, 1970
New Delhi: September 10, 2009
The Union Cabinet today approved The Indian Medicine Central Council (Amendment) Bill, 2009 for amending the Indian Medicine Central Council Act, 1970.
"Sowa-Rigpa"
commonly known as 'Amchi' is one of the oldest surviving system of medicine in the world, popular in the Himalayan region of India. In India this system is practiced in Sikkim, Arunachal Pradesh, Darjeeling (West Bengal), Lahoul and Spiti (Himachal Pradesh) and Ladakh region of Jammu & Kashmir.
The theory and practices of "Sowa-Rigpa" are similar to Ayurveda, and also include few principles of Traditional Chinese Medicine. The fundamental text book rgyud-bzi of "Sowa-Rigpa" is believed to have been taught by Buddha himself and is closely linked with Buddhist philosophy.
The Government of India has received representations from various quarters to grant recognition to the System of "Sowa-Rigpa" to enable it get a legal status. To confer legal status to "Sowa-Rigpa" amendments to section 2,3,8,9 and 17 of the Indian Medicine Central Council Act 1970, need to be carried out. The proposed amendments shall give effect to the inclusion of "Sowa-Rigpa" under sections 2,3,8,9 and 17 of the Indian Medicine Central Council Act, 1970 thereby recognizing this system legally.
It is expected that the legal recognition of "Sowa-Rigpa" will lead to the protection and preservation of this ancient system of medicine and will help in its propagation and development. This will also open new vistas leading to collaborative research and scientific validation of the "Sowa-Rigpa" system, besides conservation and protection of the medicinal plants/minerals used in the system. The recognition of "Sowa-Rigpa" will also lead to the setting
akt/hs/sh/lv/dk/kol/15:26 hrs
Press Information Bureau
Government of India
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Ministry of Health and Family Welfare
Annual Health Survey under National Rural Health Mission for preparing District Health Profiles – Creation of an SAG Level post ( Project Director)
New Delhi: September 10, 2009
The National Rural Health Mission (NRHM) was launched by the Government of India in April 2005, with a view to bringing about dramatic improvement in the health system and the health status of the people, especially those who live in the rural areas of the country. The Mission seeks to provide universal access to equitable, affordable and quality health care which is accountable and at the same time responsive to the needs of the people. The NRHM also aims to achieve the goals set out under the National Health Policy and the Millennium Development Goals during the Mission period.
Accurate, relevant and up-to-date information is essential for the health service providers at all levels so that they can initiate action on the gaps in the system based on evidence and information. Recognising the need for an information base, one of the core strategies of NRHM is "Strengthening capacities for data collection, assessment and review for evidence based planning, monitoring and supervision". As a step in this direction, the Ministry of Health & Family Welfare, in collaboration with the Registrar General of India (RGI), Ministry of Home Affairs, is launching an Annual Health Survey in the erstwhile Empowered Action Group States ( Bihar, Jharkhand, Madhya Pradesh, Chhattishgarh, Uttarakhand, Uttar Pradesh, Orissa and Rajasthan) and Assam. This survey aims to provide feedback on the impact of the schemes under NRHM in reduction of Total Fertility Rate (TFR), Infant Mortality Rate (IMR) at the district level and the Maternal Mortality Ratio (MMR) at the regional level by estimating these rates on an annual basis for around 284 districts in these States. The field work for the survey would be undertaken by private agencies and supervised by the officers of the Registrar General of India, where several posts have been created to monitor the work of the field agencies. The field work for the survey would commence during 2009-10 and the first set of results is likely to start flowing during 2010-11. Based on the experience of this exercise, a decision will be taken on future expansion of the survey to other parts of the country.
akt/hs/sh/lv/dk/kol/15:27 hrs
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