Vice President congratulates space scientists for successful launch of PSLV-C14

Press Information Bureau

Government of India

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Vice President congratulates space scientists for successful launch of PSLV-C14

 

New Delhi : September 23, 2009

 

The Vice-President of India Shri M. Hamid Ansari has congratulated our space scientists and all those associated with the successful launch of the Polar Satellite Launch Vehicle PSLV-C14. He personally witnessed the launch at Sriharikota. In his message, he said that our Space scientists have done the nation proud by this launch that carried three satellites, including the 956 kg OCEANSAT -2 Satellite.

 

Following is the text of the Vice President's message:

 

"I am very happy to have personally witnessed the launch of the Polar Satellite Launch Vehicle, PSLV-C14, today from the Satish Dhawan Space Centre, Sriharikota. Our Space scientists have done the nation proud by this launch that carried three satellites, including the 956 kg OCEANSAT -2 Satellite.

 

I congratulate our space scientists and all those associated with this successful launch."

 

SK//spandey

 

 

Press Information Bureau

Government of India

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Centre sends rabi advisories to States

FINAL STRATEGY FOR RABI TO BE EVOLVED LATER THIS WEEK AFTER CONSULTING STATES

New Delhi : September 23, 2009

 

The Centre has sent detailed advisories to States to sensitise them for maximising foodgrain production during the coming cropping season, ie, rabi.

 

The focus is on early District level rabi Planning. Consultants have been sent to a number of States to help them make District Plans and guide them on various technical aspects.

 

States have also been advised to explore the possibility of increasing coverage under wheat, Boro/summer rice and pulses. The need to take necessary steps to raise productivity of various crops has also been highlighted.

 

Since wheat contributes over 73% to total rabi foodgrains production, stress is being laid on increasing wheat production substantially. One effective measure suggested for raising wheat yield is early sowing, ie by the end of November, and the other is to bring maximum area under high yielding and high-temperature-tolerant varieties.

 

In the case of rice - the second most important rabi crop - there is stress on planting rabi rice in new areas, adoption of an improved package of practices, and planting hybrids, which have high yield potential.

 

Rabi jowar, another important rabi foodgrain, has low productivity. This is proposed to be tackled by encouraging the cultivation of new hybrids and high yielding cultivars and best possible agronomic practices.

 

States have been asked to encourage use of organic manures and micro-nutrients because soil fertility has been decreasing due to low carbon content and increasing micronutrient deficiency, more so in the northern States.

 

State-specific advisories have been evolved keeping in view the agro-climatic conditions in different areas of the country. For example, Madhya Pradesh, Maharashtra, Gujarat, Karnataka, Rajasthan and Punjab have been advised to popularise cultivation of HYVs of durum wheat. Punjab and Haryana should phase out older varieties like PBW-343 and PBW-502, which have become susceptible to rust diseases with resistant varieties like DBW-17 and PBW-550 possessing high yield potential. Assam, Bihar, Orissa and other States where consumption of fertilizers is less will need to pay special attention to balanced use of fertilizers along with organic manures and micro-nutrients.

 

The final strategy for rabi will be evolved after receiving inputs from the States and in consultation with the concerned Central Ministries over two days beginning tomorrow.

 

MP/SB  /spandey

 

 

 

 

 

Press Information Bureau

Government of India

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Central Police Forces (Assistant Commandants) Exam, 2009

 

New Delhi : September 23, 2009

 

The Union Public Service Commission will hold the Central Police Forces (Assistant Commandants) Examination 2009 at 41 Centres throughout the country on October 11, 2009.  Admission Certificates to the candidates have been dispatched. Letters of rejection stating the reason(s) for rejection have also been issued.  If any candidate has not received either the Admission Certificate or rejection letter, he/she may contact UPSC Facilitation Counter in person or on Telephone Nos.011-23385271, 011-23381125 or 011-23098543 during working hours. The candidates may also sent fax messages on Fax No.011-23387310.

 

Information on venues of Examination in respect of admitted candidates is also available on UPSC website at www.upsc.gov.in. The candidates who have not received the Admission Certificates may download the "Venue Information" from the UPSC website and use it for appearing in the examination.

 

RS/SR/spandey

 

 

 

Press Information Bureau

Government of India

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India's External Debt: A Status Report, 2008-09

 

New Delhi : September 23, 2009

 

            Department of Economic Affairs, Ministry of Finance has been publishing 'India's External Debt: A Status Report' on a regular basis since 1993.  The current volume of the Report, the fifteenth in the series, covers developments in India's external debt during the year 2008-09. It also provides an analytical presentation of India's external debt statistics. A cross-country comparison presents India's external debt position in the international perspective. 

 

Global financial crisis impacted capital flows including debt flows to India during the second half of 2008-09. Amongst the debt components, the decline was particularly sharp in External Commercial Borrowings (ECBs) with net ECB flows at US$ 8.2 billion in 2008-09 as against US$ 22.6 billion in 2007-08. Short-term trade credit flows (net) turned negative at US$ 5.8 billion during 2008-09 as compared with an inflow of US$ 17.2 billion during 2007-08. Banking capital excluding NRI deposits also recorded an outflow of US$ 7.7 billion in 2008-09 while there was a net inflow of US$ 11.6 billion under this head in 2007-08. In addition to the direct impact on debt flows, the cost of funds increased sharply on account of tight liquidity conditions in the international financial markets. Furthermore, the depreciation in the Rupee exchange rate against major international currencies in 2008-09 resulted in higher debt service payments in Rupee terms.

 

Reflecting the impact of global financial crisis on debt flows, India's external debt stock at US$ 229.9 billion at end-March 2009 recorded an increase of US$ 5.3 billion (2.4 per cent) during 2008-09 as compared with an increase of US$ 53.2 billion (31.1 per cent) during 2007-08. The lower rate of rise in India's external debt during 2008-09 was on account of valuation effect attributed to appreciation of the US dollar vis-à-vis other major international currencies, and moderation in debt components, particularly commercial borrowings and short-term trade credits reflecting the impact of tightness in international capital markets due to the crisis. In terms of rupees, India's external debt recorded a higher rise of 30.2 per cent during 2008-09 (20.2 per cent in 2007-08), due to Rupee depreciation.

 

Government (Sovereign) external debt declined to US$ 54.9 billion as at end-March 2009 from US $ 56.9 billion at end-March 2008. Its share in total external debt was lower at 23.9 per cent as at end-March 2009 (25.4 per cent at end-March 2008). Government guaranteed external debt was marginally up to US$ 6.8 billion at end-March 2009 (US$ 6.6 billion at end-March 2008). Government debt and government guaranteed debt aggregated to US $ 61.7 billion at end-March 2009, accounting for 26.8 per cent of total external debt.

 

In terms of key debt indicators, external debt position remained comfortable during the year under review. India's foreign exchange reserves provided a cover of 109.5 per cent to the external debt stock as at end-March 2009 (137.9 per cent at end-March 2008). Debt service ratio declined further to 4.6 per cent in 2008-09 from 4.8 per cent in 2007-08. The ratio of external debt to Gross Domestic Product (GDP) stood at 22.0 per cent during 2008-09 (19.0 per cent in 2007-08). The ratio of short-term debt to foreign exchange reserves posted a rise from 15.2 per cent at end-March 2008 to 19.6 per cent at end-March 2009 and the ratio of short-term debt to total external debt also increased marginally from 20.9 per cent to 21.5 per cent during the same period.

 

A comparative picture of India's external debt vis-à-vis other developing countries for the year 2007, as brought out by the World Bank's Global Development Finance, 2009 indicates that India was the fifth most indebted country amongst the top twenty debtor countries of the developing world in 2007. The ratio of India's external debt stock to Gross National Income (GNI) at 18.9 per cent was the sixth lowest with China having the lowest ratio of external debt to GNI at 11.6 per cent. In terms of foreign exchange cover of external debt, India's position was the fifth highest at 125.2 per cent after China, Malaysia, Thailand and Russian Federation.

 

During the financial year 2008-09, significant policy initiatives were undertaken relating to external commercial borrowings, short-term trade credits and non-resident deposits. The policy measures relating to external commercial borrowings indicated a move towards liberalisation in terms of expanding the list of eligible borrowers, easing all-in-cost ceilings, relaxations in end-use stipulations, etc. The all-in-cost ceiling applicable to short-term trade credits was raised, taking into account higher cost of funds in international capital markets. The interest rates on NRI deposits were also raised to counter the effect of global financial crisis on debt flows to India. The ceilings on investment of FIIs in Government securities and corporate bonds were also enhanced during the year.  These measures have been possible due to comfortable external debt position of the country.

 

The complete Report is available on the website of Ministry of Finance – http://www.finmin.nic.in/reports/index.html.

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BSC/BY/GN-332/09/spandey

 

 

Press Information Bureau

Government of India

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13 FDI Proposals approved

 

New Delhi : September 23, 2009

 

 

            Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on September 11, 2009, Government has approved 13 Proposals of Foreign Direct Investment amounting to Rs. 393.62 Crore approximately.                                                 

            Following 13 (Thirteen) proposals have been approved.

Sl. No.

Name of the applicant

Particulars of the proposal

FDI/NRI inflows (Rs. In Crore)

COMMERCE

1	M/s Kludirak India Pvt. Ltd., Mumbai	To set up a JV company to undertake wholesale cash & carry trading.  The proposal attracts Press Note 1 of 2005.	1.89
2	M/s L.Occitane Singapore Pte Ltd.	To acquire 51% equity of the Indian company to carry out the single brand retail trading.	Not indicated

ECONOMIC AFFAIRS

3	M/s Ramboll Singapore Pte Ltd., Singapore	Post facto approval for foreign equity participation in respect of fully paid up equity shares by virtue of its acquisition in 2008 to undertake Tower Engineering and tower related services.  The proposal attracts Press Note 1 of 2005.	3.00
4	M/s InfxQ Knowledge Services Pvt. Ltd., Bangalore	Issue of equity shares against the money received as advance towards export of services.	1.08

INFORMATION & BROADCASTING

5

M/s S & S Media (India) Enterprises Pvt. Ltd., Bangalore

To induct foreign equity participation upto 100% to publish Specialty Magazines.

0.30

SHIPPING

6

M/s TM International Logistics Ltd., Kolkata

To issue shares against consideration other than cash.

40.00

ECONOMIC AFFAIRS

7

M/s General Motors Acceptance Corporation

To waive off the condition of minimum capitalization norms.

No Fresh Inflow

INUSTRIAL POLICY & PROMOTION

8	M/s Strata Geosystems (I) Pvt Ltd.	To (i) regularise foreign inward remittances as well as allotment of shares, (ii) further compounding by RBI to be waived off, and (iii) to allow them to raise the FDI participation up to Rs. 5 .00 Crore, without change in approved percentage.	No Fresh Inflow
9	M/s Sterlite Technologies Ltd.	To issue and allot warrants on preferential basis.	103.95

INFORMATION & BROADCASTING

10

M/s Dish TV India Ltd.

To make an amendment in FC approval letter.

243.40

TELECOMMUNICATIONS

11

M/s Sistema Shyam Teleservices Ltd.

Ex-Post-facto approval for conversion of operating company into operating cum holding company and making downstream investments.

No Fresh Inflow

DEFENCE PRODUCTION

12

M/s Taneja Aerospace and Aviation Ltd., Tamil Nadu

To regularize the FII investment in the Defence Sector.

No Fresh Inflow

TELECOMMUNICATIONS

13

M/s Devas Multimedia Pvt. Ltd.,

To induct fresh foreign equity participation with the induction of a new foreign collaborator.

Not Indicated

            The following 8 (Eight) proposals have been deferred:

Sl. No	Name of the applicant		Particulars of the proposal
1	M/s Supreme Infrastructure India Limited, Mumbai	To issue fully convertible equity warrants directly to Foreign Institutional Investor.
2	M/s Sahara One Media and Entertainment Ltd., Mumbai	Ex-post-facto approval for foreign investment by NRIs and FIIs to carry out the activities relating to Entertainment Media, Motion Pictures.
3	M/s Rama Cylinders Pvt. Ltd.	To make an amendment in the FC approval.
4	M/s Sun Trechnics Energy Systems Pvt Ltd.	To issue shares against Trade payable.
5	M/s Synergy Media Entertainment Ltd.	To increase the foreign shareholding of the paid equity share capital to carry out the activities relating to FM Radio Broadcasting in various circles in India.
6	M/s UTV Software Communication Ltd.	To issue and allot equity shares pursuant to the scheme of arrangement approved by the Hon'ble High Court of Bombay.
7	M/s Eads Deutchland GmbH (EADs), Germany and Larsen & Tourbo Limited (L&T), Mumbai	To incorporate a manufacturing Joint Venture company to undertake the production of Defence equipment (manufacture of arms and armaments).
8	M/s ByCell Telecommunication Pvt. Ltd.,	A decision is required to be taken in the light of the High Court's directions that any representation made by ByCell is to be considered by FIPB in light of MHA's objections to security credentials of the company.

            The following 2 (Two) proposals have been rejected:

Sl. No	Name of the applicant	Particulars of the proposal
1	M/s LGT Venture Philanthropy Foundation, Zurich	Relaxation in fulfillment of the condition of minimum capitalization norms.
2	M/s ICICI Investment Management Company Ltd., Mumbai	To make investment by a Foreign Fund Company into an Indian Fund Company.

             The following 01 (One) proposal has been noted:

Sl. No.	Name of the applicant	Particulars of the proposal	FDI/NRI inflows (Rs. In Crore)
1	M/s Caparo Engineering India Pvt Ltd.	Ex-post-facto approval for conversion of an operating company into operating cum holding company for making downstream investment.	No Fresh Inflow

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BSC/BY/GN-333/09/spandey

 

 

PIB Kolkata