H1 FY25 FINANCIAL RESULT HIGHLITS
Home Blog Page 8384

Sonic net could save birds and aircraft, study suggests

0
sonicnet_logo-indianbureaucracy
sonicnet_logo-indianbureaucracy

Summary:Introducing a noise net around airfields that emits sound levels equivalent to those of a conversation in a busy restaurant could prevent collisions between birds and aircraft, saving passenger lives and billions in damages, new research has found.

Introducing a noise net around airfields that emits sound levels equivalent to those of a conversation in a busy restaurant could prevent collisions between birds and aircraft, saving passenger lives and billions in damages, new research has found.

A study published in Ecological Applications led by Professor John Swaddle, visiting Research Associate at the University of Exeter, found that filling a controlled area with acoustic noise around an airfield, where the majority of collisions tend to take place, can reduce the number of birds in the area by 80 per cent.

Bird strikes cost the aviation industry worldwide billions of pounds annually, $937 million in the US alone, and were responsible for 255 deaths between 1988 and 2013, yet measures to reduce these have been largely ineffective. Collisions also pose a threat to resident and migratory birds as they often find the habitat around airports such as wetlands and open fields attractive.

Techniques to deter birds from airports include shooting, poisoning, live-capture and relocation, and the use of scare technologies, but these have proved largely ineffective. Professor Swaddle and his team believe they have found a benign and relatively cost effective solution to the problem by emitting 24- hour noise in the area to interrupt bird communication.

The researchers set up speakers and amplifiers in three areas of an airfield in Virginia USA and observed bird abundance over eight weeks, the first four weeks without noise and the second four weeks with the noise turned on.

Results showed a large decrease in the number of birds in the ‘sonic net’ and areas just outside and found that it was particularly effective at deterring a number of species that were at high risk of bird strike such as starlings.

“We have conducted prior research in an aviary but this is the first study done out in the field to show the efficacy of the sonic net. We are using a different kind of deterrent–trying to stop birds from hearing one another by playing a noise that is at the same pitch as the alarm calls or predator noises they are listening out for,” said Professor Swaddle, who is also Professor of Biology at the College of William and Mary in Williamsburg in the US.

“By playing a noise at the same pitch, we mask those sounds, making the area much riskier for the birds to occupy. The birds don’t like it and leave the area around the airfields, where there is potential for tremendous damage and loss of life.”

There was no sign of the birds becoming habituated to the noise which was set at a level louder than a domestic dishwasher but no more than that of a noisy restaurant.

“These findings have implications for airport safety but also have potential applications for agriculture and for alternative energy sources such as solar farms, where birds living and feeding in the area can cause disruption, and around wind turbines where the birds are at risk of collision and the threat to birds can sometimes be a legislative barrier,” Professor Swaddle added.

Source:University of Exeter(science)

Rockwell Collins launches ‘Positive Train Control’ shared network solution

0
RailwayNetInfrastructureGlobe-indianbureaucracy
RailwayNetInfrastructureGlobe-indianbureaucracy

Rockwell Collins announced the launch of ARINC RailwayNet℠, a hosted network and messaging platform for passenger and freight railroads. The new solution is designed to increase safety and reliability in the railroad industry and to help railroads meet the Positive Train Control (PTC) requirements mandated by the Rail Safety Improvement Act of 2008.

Built on the same Rockwell Collins’ mission-critical infrastructure relied upon by aviation customers around the world for more than 80 years, ARINC RailwayNet℠ aims to address the technical challenges of PTC adoption by offering a hosted service to short-line, regional and commuter railroads in North America.

“ARINC RailwayNet leverages Rockwell Collins’ expertise to create a common communication infrastructure for all railroads,” said Denny Lengyel, Vice President, Surface Transportation Systems for Rockwell Collins. “ARINC RailwayNet provides the network connections and office applications required to exchange critical information among Class 1 railroads and their partner short line and commuter railroads. With RailwayNet, Rockwell Collins is helping short line and commuter railroads meet the PTC mandate efficiently, cost-effectively and securely.”

Rockwell Collins also announced that it has received a $4.9 million grant from the Federal Railroad Administration (FRA) to help implement the new system.  The FRA grant award is being used to provide technical support to participating short line and commuter railroads that need assistance implementing the office and networking segments of a PTC system. The grant is also being used to develop a guide to assist smaller railroads in implementing PTC systems.

Rockwell Collins has been involved with the evolution of PTC since its beginning as Advanced Train Control over thirty years ago. The company’s information management, command and control, and network solutions are used throughout the rail industry.

ARINC RailwayNet is currently available on a subscription basis as a hosted, software as a service (SaaS) solution. PTC messaging from the back office to the locomotive through VHF, cellular and WiFi is available today and additional value added services will be available in the future.

About Rockwell Collins

Rockwell Collins is a pioneer in the development and deployment of innovative aviation and high integrity solutions for both commercial and government applications. Our expertise in flight deck avionics, cabin electronics, mission communications, simulation and training, and information management is delivered by a global workforce, and a service and support network that crosses more than 150 countries. To find out more, please visit www.rockwellcollins.com.

Meeting of the Principal Secretaries of States/UTs of Social Justice Depts

0
Shri Thaawar Chand Gehlot
Shri Thaawar Chand Gehlot

The Union Minister for Social Justice and Empowerment, Shri Thaawar Chand Gehlot presiding over a Meeting of the Principal Secretaries of States/UTs of Social Justice Department, in New Delhi . The Secretary, Ministry of Social Justice and Empowerment, Ms. Anita Agnihotri and other dignitaries are also seen.

s2016060384181

ASSOCHAM-PwC study finds India’s power Demand set to outpace Supply

0
Chutak hydropower
Chutak hydropower

India’s power deficit may rise from 2.6 per cent of peak demand in FY16 to 5.6 per cent in FY22 as demand starts to overtake supply, noted a recent ASSOCHAM-PwC joint study.

“Availability of reliable, affordable and sustainable electricity is an essential requirement for propelling the India growth story and all potential sources of energy will need to be tapped to meet the envisaged demand and ensure its energy security,” highlighted the study titled ‘Hydropower @Crossroads,’ jointly conducted by ASSOCHAM and PwC.

Considering an energy elasticity of 0.8, India is estimated to require seven per cent annual growth in electricity supply to sustain annual gross domestic product (GDP) growth of around 8-9 per cent, it said.

In order to achieve the target of 1,800 kilowatt-hour (kWh) per capita consumption and electricity access for 300 million people by 2034, India will require an additional power supply capacity of 450 gigawatt(GW), as such hydropower, with an abundant 148 gigawatt (GW), can substantially contribute towards meeting India’s energy needs.

Considering that coal-based generation accounts for about 70 per cent of total installed capacity and over 80 per cent of total units generated in India, the study cautioned that such higher dependency on thermal generation sources pose a serious threat to energy security in terms of fuel availability, long-run economic viability and environmental sustainability.

“Hydropower can play a crucial role in India’s sustainable development and energy security given that it meets the criteria of sustainability, availability, reliability and affordability,” said the ASSOCHAM-PwC study.

However, share of hydropower in India’s energy mix has decreased almost by 30 per cent in last 40 years owing to various issues like water sharing disputes, environmental concerns, rehabilitation and resettlement (R&R) issues, land acquisition problems, delays in procuring clearance and approvals, inadequate technical and financial capability of developers.

Considering that hydropower projects are capital-intensive and are faced with various risks and uncertainties, optimum risk allocation mechanisms between developers, government and project affected people need to be in place, suggested the study.

Moreover, new financing avenues need to be developed along with sufficient funding support from the government in order to attract investment in the sector.

Highlighting the need to expedite various clearances, such as those for environment, forest and land, the ASSOCHAM-PwC study suggested the government to form a specialised institution for facilitating large infrastructure projects in terms of clearances and approvals, thereby minimising the time taken for these processes.

Adequate fiscal incentives in terms of tax holiday, Value Added Tax (VAT) exemption, and exemption of custom duty should be allowed by the government to help in reducing hydropower project cost and securing a cheaper source of finance, it added.

Viability gap funding (VGF) can also be a viable proposal to make hydropower projects price competitive, further said the study.

“Government of India may create a special hydropower development fund or can use the clean energy fund to provide loans to hydro projects at a lower rate of interest,” recommended the ASSOCHAM-PwC study.

It has also been suggested that the Central Electricity Regulatory Commission (CERC) should facilitate market-based instruments like hydropower purchase obligations (HPOs), which have an underlying principle of mandatory purchase of hydropower by distribution utilities.

“CERC needs to come up with a differentiated peak and off-peak tariff to incentivise hydropower, given its potential to meet peak demand.”

Hydropower project developers, as a part of economic and social development of the area,  need to be mandated to open technical training centres, clinics and health centres, schools, etc., in the project affected area to gain public acceptance and get skilled labour, while local residents get employment opportunities.

“A structured mechanism needs to be developed for balancing benefits from hydropower projects and transferring economic rents from projects to the government, which should ultimately be passed on to affected stakeholders,” the study said.

Besides, hydropower developers should incorporate modern machinery and techniques to enhance their capability to deal with contingencies.

Jaitley addresses CEOs in Tokyo promoting Economic Cooperation

0
japan_india_flag_indianbureaucracy
japan_india_flag_indianbureaucracy

We are working overtime to cover up infrastructure deficit be it ports, airports, renewable energy, roads, smart cities, industrial corridors, townships along industrial corridor and this impetus will lead to improved manufacturing” said Shri Arun Jaitley, Hon’ble Minister of Finance, addressing leading CEOs of India and Japan in Tokyo . Speaking about the key economic data released yesterday, Shri Jaitley remarked “We have clocked 7.6 per cent GDP growth and core sector growth has been 8.4 percent. These figures indicate a pattern.

Deeper analysis shows that there are areas where global slowdown has had an impact on India but the fact that despite operating in unsupportive global environment and weak monsoon, we managed to clock this growth is a salute to public expenditure, India’s private sector and FDI.” He further added that once global growth restores and monsoon is better, this trend in India will be improved upon. Mr Iijima, Chair, India Japan Business Cooperation Committee (IJBCC) expressed optimism that India will continue to drive growth despite the global slowdown. He was also happy with the collaboration of two countries on Bullet Train and Townships and stressed on the continued focus and engagement of Japan Chamber of Commerce and Industry (JCCI) with India.

HE Mr Sujan R Chinoy, Ambassador of India to Japan too expressed confidence of achieving high growth in near future and said “Indian economy has attained a growth rate of 7.5% and the prospects of double digit growth in Asia’s third largest economy are not unreal with full implementation of all the reforms currently on the anvil.” Earlier in the meeting, Mr. Harshavardhan Neotia, President FICCI emphasized the need to extend two-way business co-operation and leverage potential opportunities.

“Indo-Japan trade is mere 1 percent of Japan’s foreign trade and while Japan is India’s fourth largest foreign investor, India’s share in Japan’s total outward FDI is less than 2 percent. Clearly, this is way below potential and we need to work towards doubling this, as set out in the Tokyo declaration”, said Mr. Neotia. Participating in another event organized by Japan’s Institute for Indian Economic Studies (IIES), Mr. Rashesh Shah, Vice President, FICCI, highlighted the huge opportunity that India offers for Japanese investors. “We are at a very exciting point in India. There is a lot of opportunity and head room for growth. At present India is a 2 trillion dollar economy but every 8 years India’s GDP will grow by a trillion dollar and per capita will grow significantly”, he remarked. “India is a long term opportunity and given its heterogeneity, while there may be issues at any point in time but one needs to focus on long term gains”, added Mr. Shah.

Auctioning of Mines under way

0
Ministry of Mines
Ministry of Mines

The government has already auctioned six mines and was in the process of auctioning another 50-60 mines in the near future. The aim is to auction at least 20-25 mines in the next three months. Also, in the next 45 days an Exploration Policy is in the offing, in which the private sector will play a crucial role. All data on exploration would soon be available in the public domain. This was disclosed by Mr. Balvinder Kumar, Secretary, Ministry of Mines, Government of India, at aninteractive session on ‘Mineral Concession Rules 2016’ organized by FICCI and the Ministry of Mines, Government of India.

Mr. Kumar said that 100 blocks have also been identified for exploration and would be auctioned under the upcoming Exploration Policy which will be notified soon. Also, a sustainable development framework was being deliberated upon in which star rating would be given to mining leases and this would be based on self-certification. To monitor illegal mining activities, Mr. Kumar said an application system was been prepared which would immediately identify any mining activity undertaken outside the purview of authorized mining activity and the control room of this system would be in the Indian Bureau of Mines. He added that offshore mining rules would be in the public domain soon and the government has identified 50 offshore mining blocks which will come up for auction in three-four months. In his special address, Mr. R K Sinha, Controller General, Indian Bureau of Mines (IBM), Government of India,said that IBM was playing a proactive role and was providing handholding to state governments. Mineral Concession Rules 2016 has now brought greater transparency, clarity of terms, simplification of process, adherence to time limits and enhanced responsibilities to IBM.

He added that IBM was enabling state governments to develop a system for preparation, certification and monitoring of Mining Plan. Speaking on exploration, Mr. S V Prasad, Vice-President, SBI Capital Markets Limited, said that besides participating in the bidding for exploration contracts, private sector could participate as a part of Expert Committees formed by NMET; independent consultants that could assist NMET in audit and certifying performance of exploration contract; assist in project preparation and be a JV Partner of PSUs. Mr. R Saravanabhavan, Senior Research Officer-Minerals Division, NITI Aayog, said that NITI Aayog as a think tank was providing strategic policy as well as technical advice to various ministries to enable them to grow in the right direction. He added that NITI Aayog’s Team India Hub is leading the engagement of states with the Central government and the Knowledge and Innovation Hub builds NITI’s think-tank capabilities.

Also NITI Aayog is developing itself as a State of the Art Resource Centre. Ms. Ambika Sharma, Director General (International), FICCI, said that FICCI welcomes the Amended Mines and Minerals (Development & Regulation) Act 2015, which has been a great forward move for the growth of mining industry in India. She added that the Mineral Concession Rules would help in developing a conducive business environment.

While seeking clarification on industry’s issues, Mr. Tuhin Mukherjee, Managing Director, Essel Mining & Industries Ltd and Chair, FICCI Mining Committee, said that ‘Mineral Concession Rules 2016’ aim to streamline the process of granting mineral concessions and laying the process and timelines for grant of concessions, disposal of applications and granting of mining leases. He added that the transparency brought by the rules would allow industry to grow. Later, Mr. Gopal Dhawan, Chairman-cum-Managing Director, Mineral Exploration Corporation Ltd and Ms. Lekha S Chakraborty, Associate Professor, National Institute of Public Finance and Policy, shared the Industry-Academia Perspective on the subject. The vote of thanks was presented by Mr. P C Tibrewal, President – Mining, Jindal Steel & Power Limited and CoChair, FICCI Mining Committee.

First ever “All India Women Journalists’ Workshop” on 7th June, 2016

0
Ministry of Women & Child Development
Ministry of Women & Child Development

The Ministry of Women and Child Development, in association with Press Information Bureau, Ministry of Information & Broadcasting is organizing the first ever “All India Women Journalists’ Workshop” on 7th June, 2016 at Vigyan Bhawan in New Delhi. The Conference will bring together 250 journalists from all parts of the country together on a single platform. The women journalists represent print, electronic and online media across the country including small and regional media organizations.

This Conference will be a unique gathering of women journalists, who specialize in social sector reporting, coming together to understand, discuss and deliberate on issues concerning women and children. The Ministry of Women and Child Development will be showcasing the achievements during the last two years and also obtain a feedback on a number of issues concerning women and children especially on the recently released Draft National Policy for Women, Draft Anti Trafficking Bill, Draft Regulations under JJ Act. The Ministry is also looking forward to new ideas/ areas concerning women and children which could be taken up in the coming months.

Union Minister of State for Commerce and Industry, Smt Nirmala Sitharaman will also address the participants.

Journalists from 30 States/UTs have already confirmed their participation and more participation is expected in the coming two days. The participating journalists represent several regional publications and regional news channels of the country.

The WCD Ministry will also be putting up an exhibition of two of its large initiatives namely; Beti Bachao-Beti Padhao and Children’s Helpline-Childline.

Textiles Minister inaugurates Apparel & Garment Making Centre in Mizoram

0
Ministry of Textiles-indianbureaucracy
Ministry of Textiles-indianbureaucracy

I am happy to dedicate the Apparel & Garment Making center to the people of Mizoram.  The Center has been set up to give an opportunity to local entrepreneurs to convert their ideas and designs into flourishing businesses.  The Apparel and Garment Making centers are a reflection of the commitment of the Government to create new opportunities for the youth under Make in India scheme of the Government of India.  The Centre will not only provide new avenues to the local entrepreneurs but also create additional employment opportunities for the local people.

Union Textiles Minister Shri Santosh Kumar Gangwar, at the inauguration of the Apparel and Garment Making Centre in Mizoram, at Industrial Growth Centre, Luangmual, Aizawl.

While dedicating the Apparel and Garment Making Centre to the people of Mizoram, the Hon’ble Minister expressed hope that the Apparel Centre would promote entrepreneurship in the garment industry in Mizoram and open new avenues of employment for the local people. Congratulating the young entrepreneurs who would be running the facility, the Minister assured all possible support to them in making the units commercially viable and self-sustainable, and in setting up the requisite ecosystem for apparel manufacturing in the region. He said that they may also dovetail with other schemes of Government of India, in order to avail financial assistance to start the business.

Apparel Centers are the first organized effort to bring modern ready-made garment industry in North East. Being an unconventional project and the first of its kind experiment in NER the apprehensions are genuine. But I am confident that the fashion savvy state like Mizoram has all the potential to change the face of the textile sector in the region if they are supported with enabling policies and an environment conducive for the growth of the industry. The growth of garment industry in Mizoram will also provide a fillip to the traditional sectors like handlooms, handicrafts and silk etc. and help them to convert the traditional designs into modern garments.

Union Textiles Minister Shri Santosh Kumar Gangwar, on the occasion.Mizoram has been sanctioned six projects across sericulture, handlooms and apparel & garmenting with a total project cost of Rs. 114.82 cr, with Government of India’s share being Rs. 102.90 cr. To maximize the benefits under the projects it is important to achieve convergence across all the projects so that an ecosystem of integrated value chain with requisite backward and forward linkages is created.

The Minister said that the Union Government is committed for the development of NER states, while preserving the unique cultural identity and rich heritage of each of the states. He said that the Government’s development model isSabka Sath Sabka Vikas; he sought the people’s cooperation in realizing this vision.

The Minister thanked the Government of Mizoram for its active support and cooperation without which the mission would not have been possible. He appreciated the work of NBCC as well in constructing the Centre. He expressed hope that the remaining work as pointed out by the State Government will also be completed soon.

The function was attended by Minster of State, Ministry of Food Processing, Government of India, Sadhvi Niranjan Jyoti; Mizoram Industries Minister Shri H. Rohlhuna; Mizoram Sericulture Minister Dr. B. D. Chakma; Textiles Commissioner, Ministry of Textiles, Government of India, Dr. Kavita Gupta; Parliamentary Secretary Shri Joseph Lalhimpuia;  and other dignitaries.

Background

The project to launch Apparel and Garment Making Centers in each of the eight states in the North Eastern Region was announced by the Hon’ble Prime Minister on 1st December, 2014 in Nagaland.  Under the project, one such Apparel and Garment Making Centre consisting three units of 100 industrial stitching and other garmenting machines have been sanctioned in each of the eight NER States with the total cost of Rs. 145.44 crore @ of 18.18 crore per centre.

Each Apparel and Garment Making Centre set up under the initiative is estimated to generate direct employment for 1,200 people. Each state will have one centre with three units, each having 100 machines. For local entrepreneurs with requisite background, required facilities to start a unit will be provided in ‘plug and play’ mode. Once such entrepreneurs get established, they can set up their own units, allowing the facility to be provided to new entrepreneurs.

The initiative comes under the North East Region Textile Promotion Scheme (NERTPS) of the Ministry of Textiles. NERTPS is an umbrella scheme for the development of various segments of textiles, i.e. silk, handlooms, handicrafts and apparels & garments.

The Apparel and Garment Making Centre in Mizoram is one of the eight Apparel & Garmenting Centers being set up by the Ministry under NER Textile Promotion Scheme. The Center is located at Industrial Growth Centre at Luangmual in Aizawl.  The foundation stone for the Apparel Centre in Mizoram was laid by the Union Textiles Minister on 3rd July, 2015.

The Apparel and Garment Making Centres in Nagaland and Tripura have already been inaugurated by the Minister on 5th April, 2016 and on 8th April, 2016 respectively. Work on other Centres is in progress.

Railways and Haryana sign MoU for JV formation

0
Railway Board
indian_Railways

The Union Minister for Railways, Shri Suresh Prabhakar Prabhu addressing at the signing ceremony of a Memorandum of Understanding (MoU) between the Ministry of Railways and Government of Haryana for formation of a Joint Venture, in New Delhi . The Chief Minister of Haryana, Shri Manohar Lal Khattar and the Chairman, Railway Board, Shri A.K. Mital are also seen.s2016060284170

Manohar Lal Khattar lays foundation stone for Jai Jawan Awas Yojna

0
Manohar Lal Khattar-indianbureaucracy
Manohar Lal Khattar-indianbureaucracy

Shri Manohar Lal Khattar, the Honourable Chief Minister of Haryana, at Bahadurgarh, Haryana. General Dalbir Singh, Chief of Army Staff was the Guest of Honour during the event. Lieutenant General KJ Singh Western Army Commander was also present apart from large number of Veterans & Veer Naaris.

The project is being executed by Army Welfare Housing Organization and aims to provide low cost housing. This housing project has been named in the memory of Late Major Rajiv Joon, recipient of Ashok Chakra and Shaurya Chakra, who  had attained martyrdom fighting militants in Anantnag district of Jammu & Kashmir. On this occasion, his brother Paramjit Singh Joon was felicitated by the Chief Minister of Haryana.

The event was followed by an address of the Veterans Rally by the  Chief Minister of Haryana and the COAS. Gen Dalbir Singh announced that the residential project at Bahadurgarh would be pitched at a very low cost for the benefit of JCOs and Other Ranks. He praised Late Major Rajiv Joon for setting a sterling example of bravery and sacrifice. Gen Dalbir Singh thanked the Haryana Chief Minister for all the assistance provided for the project and added that the Chief Minister had granted dispensation in construction which permitted construction of about 500 dwelling units instead of 400 planned earlier. COAS also brought out that a similar dwelling project was being planned at Karnalfor  which land has been promised by the Chief Minister. While addressing the veteran community, he highlighted that 14 January was being celebrated as ‘Veterans Day’ and urged veterans to visit Directorate of Indian Army Veterans (DIAV) in Delhi to get their grievances addressed. He brought out that plans were afoot to operationalize Regional Veterans Hospital under each Command. He also informed that the Army had planned setting up an education complex and the Haryana Government was allocating land at Sonepat for the same. Shri Manohar Lal Khattar, added that over 3000 Ex Servicemen will be inducted into Haryana Police and that a Sainik School was also being raised at Matanhail, apart form other schemes and welfare projects by the government.

A plethora of activities for the benefit of Veterans & Veer Naaris were also organized at the venue. Numerous stalls were put up to cater to the requirements of ‘Veer Senanis’, which included a Joint Forum of Indian Army and Civil Agencies to address important issues related to the veterans, Skill Development, Indian Army Veterans Self Help Counter, Zila Sainik Board and Army Welfare Placement Organisation.  Medical Camp was also organized as part of the event with various Medical specialists in attendance. More than 3000 ex servicemen and Veer Naris attended the event.

NTPC Ltd Audited Financial Results for Financial Year 2015-16

0
NTPC-indianbureaucracy
NTPC-indianbureaucracy

The Country’s largest power generator – NTPC Ltd. having installed capacity of 47178 MW has declared the Unaudited Financial Results for 4th quarter of Financial Year 2015-16 along with Audited Financial Results for Financial Year 2015-16.

During the Financial Year 2015-16, NTPC Ltd. recorded highest ever generation of 241.975 Billion Units against 241.261 Billion Units generated during the previous year. The Audited Total Income for the Financial Year 2015-16 was Rs. 71,696.07 crore and the Profit After Tax was Rs. 10,242.91 crore. For the financial year 2015-16, thermal PLF of NTPC Ltd. was 78.61% against the National PLF of 62.28%.

For the 4th quarter of Financial Year 2015-16, NTPC Ltd. generated 62.332 Billion Units against 61.313 Billion Units generated in the corresponding period of the previous year, up by 1.66%. The Unaudited Total Income was Rs. 18,560.70 crore and the Profit Before Tax was Rs. 3,571.24 crore against the Profit Before Tax of Rs. 3,122.20 crore for the 4th quarter of Financial Year 2014-15, up by over 14%. The Profit After Tax for the 4th quarter of Financial Year 2015-16 was Rs. 2,716.41 crore.

The Board of Directors has recommended Final Dividend for the Financial Year 2015-16 @ Rs. 1.75 per share @ 17.50% of paid-up capital, subject to the approval of shareholders in the Annual General Meeting scheduled to be held in September, 2016. The Company had paid Interim Dividend for the Financial Year 2015-16 @ Rs. 1.60 per share @16.00% of paid-up capital in February, 2016. Thus, total dividend for the Financial Year is @ 33.50% of paid-up capital.

Jaitley urges Japanese infra companies to partner in India’s Growth Story

0
Arun Jaitley
Arun Jaitley

The high powered FICCI delegation to Japan accompanying Finance Minister Shri Arun Jaitley today, participated in the NIKKEI Conference on the theme “The Future of Asia”, which was followed by a roundtable on National Investment & Infrastructure Fund (NIIF). Speaking on the topic “India’s Economic Performance: An Engine of Growth”, Shri Arun Jaitley emphasised the role of various reforms and measures by the government in improving the health of Indian economy amidst the tepid global environment and challenging domestic environment due to two years of bad monsoons.

With better prospects of monsoons this year, combined with improved urban demand and continuation of reforms, he expressed optimism in maintaining or even improving the growth rate in the current fiscal. Shri Jaitley spoke on the series of structural reforms that have facilitated India’s high growth including large public spending on infrastructure, liberalisation of investment regime, and improvement in ease of doing business. He also highlighted the focus being laid on rural development and social security, which are critical for long term development of the country. Amongst the key legislative reforms, Shri Jaitley highlighted the importance of recently passed Bankruptcy law, which will make the exit from unviable business easy.

He also expressed optimism for early introduction of Goods and Services Tax. Later, in the roundtable discussion on National Investment and infrastructure (NIIF) with various Japanese fund managers, the Finance Minister spoke about the potential opportunities in the infrastructure sector in India, especially in roads, highways, railways, ports and airports, several of which are being developed in a PPP mode. He urged the Japanese companies, having huge expertise and technology in these areas, to be an active partner in India’s growth story. He also urged the Japanese investors to make use of the NIIF, which is a flexible way of investing in India’s infrastructure development.

Highlighting the potential opportunity for Japanese Investment in India’s infrastructure, Dr. Saurabh Garg, Joint Secretary (Investment) said that over USD 700 billion of investments are being planned in infrastructure sector and significant reforms have been implemented to create financially attractive projects for investors.

He said that NIIF is a unique vehicle to tap this opportunity and offers a good platform to foreign investors to make attractive returns. NIIF is an ideal blend of private sector entrepreneurship with government support. H.E. Mr. Sujan R Chinoy, India’s ambassador to Japan spoke about the Japanese interest in India and said “Japanese companies are increasingly looking to have a presence in India as part of their global risk mitigation strategy, in keeping with Japan’s ‘China Plus One’ Strategy and the emphasis on the creation of new ‘Partnerships for Quality Infrastructure’ in the region.

Mr. Harshavardhan Neotia, President FICCI complemented Japanese companies which have actively participated in India’s mega infrastructure projects. “There is definitely no match for Japanese technology and expertise in highspeed railways and we look forward to many such partnership projects across the country,” he said. Mr. Koichi Yajima, COO, Japan Bank of International Coop (JBIC) mentioned that JBIC surveys have ranked India as the most attractive and promising investment destination for Japanese manufacturing companies. He highlighted some of the key areas where Japanese companies are currently participating in India, including DMIC, renewables and other Make in India projects. Given India’s infrastructure deficit and requirement of huge investments in this sector, Mr. Yajima also expressed hope that NIIF will provide good opportunity for Japanese companies for making investment in India’s infrastructure