H1 FY25 FINANCIAL RESULT HIGHLITS
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Boost for Medical Tourism

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medical_tourism
medical_tourism

The Minister of State (Independent Charge) for Culture & Tourism Shri Shripad Yesso Naik has said that the Ministry of Tourism provides financial assistance under its Market Development Assistance (MDA) scheme for promotion of Wellness & Medical Tourism in the overseas markets to the following eligible stakeholders:

(i) Representatives of Hospitals accredited by Joint Commission International (JCI) or the National Accreditation Board of Hospitals & Healthcare Providers (NABH).

(ii) Representatives of wellness centres accredited by the State Governments or AYUSH or NABH.

(iii) Representatives of medical tourism facilitators i.e., travel agents and tour operators approved by the Ministry of Tourism, Government of India.

In a written reply in the Lok Sabha today Shri Naik said, under the scheme, assistance up to Rs.2.00 lakh is given to the eligible stakeholders as stated above for meeting the cost of international airfare and for construction of booth, space rentals, electricity and water charges incurred for participation in the approved events.  The financial assistance under the MDA scheme is provided subject to adherence to the scheme guidelines and availability of funds.

The Minister said, during the last three years and current year up to 30th June, 2014, a sum of Rs.1,15,37,282/- has been reimbursed to the eligible stakeholders under the scheme. The details of funds released are given in the Annexure.

He said, the number of foreign tourists who came for medical treatment during 2011 and 2012 was 138802 and 171021 respectively. The Ministry of Tourism, however does not compile the figures of revenue generated through tourists coming for medical purposes separately.  However, Foreign Exchange Earnings (FEEs) through tourism in India during the years 2011, 2012 and 2013 was Rs.77,591 crore, Rs.94,487 crore and Rs.1,07,671 crore, respectively.

The development and promotion of tourism destinations and products is primarily the responsibility of the concerned State Government/Union Territory Administration.  However, the Ministry of Tourism promotes wellness and medical tourism for boosting inflow of foreign tourists in a holistic manner, inter alia, by running campaigns in the international markets under the Incredible India brand-line; conducting Road Shows, Know India Seminars; participating in major international tourism fairs and exhibitions and also supporting Events/Seminars/Conferences which have focus on wellness and medical tourism, the Minister added.

Annexure

Details of Financial Assistance granted under the Market Development Assistance to various Medical/Wellness Tourism stakeholders during the last three years (2010-2013) and current year up to 30th June, 2014

 

Year Amount reimbursed in Rupees
2011-12 15,26,759
2012-13 19,13,018
2013-14 10,27,970

2014-15
70,69,535
Total 1,15,37,282 

Debasish Mallick Appointed as Deputy Managing Director- Exim Bank of India

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debashis
debashis

The Appointment Committee of the Cabinet (ACC) has approved the appointment of Debasish Mallick as Deputy Managing Director (DMD), EXIM Bank of India from the date of taking over the charge of the said post. He is presently the MD & CEO, IDBI Asset Management Company Ltd .

Shri Mallick, a post graduate in Economics and a Certified Associate of Indian Institute of Bankers, has nearly three decades of experience in the Banking industry,including areas of Corporate Banking, International Banking, resource mobilization and Treasury.

 

 

David Rasquinha Appointed as Deputy Managing Director – Exim Bank of India

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David Rasquinha
David Rasquinha

The Appointment Committee of the Cabinet (ACC) has approved the appointment of David Rasquinha as Deputy Managing Director (DMD), EXIM Bank of India from the date of taking over the charge of the said post. He is presently the Executive Director, Export-Import (EXIM) Bank.

He headed the Overseas Lines of Credit and Structured Trade Finance Groups of the Exim Bank. David joined Exim Bank in 1985 and since then has had a wide ranging exposure to the broad field of export credit, having worked in the areas of Treasury, Multilateral Agency Funded Projects, Planning & Research, Risk Management, Trade Finance, Project Finance and Project Exports. He was a member of an Exim Bank team that conducted a feasibility study for setting up an export credit agency for the Gulf Co-operation Council countries. He served as a member on the Working Group set up by Reserve Bank of India for working capital finance to software units.

General Bikram Singh visits Western Command

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bikram-singh
bikram-singh

General Bikram Singh, Chief of Army Staff visited Headquarter Western Command on 20 and 21 July 2014. The COAS was received by Lieutenant General Philip Campose, General Officer Commanding in Chief, Western Command. He was briefed on operational aspects pertaining to the Command area of responsibility. 

The COAS, who is superannuating at the end of this month, interacted with the veterans residing in the city as also with commanders and other officers of the Command. He also addressed all the officers of Western Command and exhorted them to continue working hard and maintain the highest standards of operational, training and administrative activity. He highlighted the various initiatives undertaken over the last two years for improving satisfaction levels for serving and retired officers. The COAS paid homage to the martyrs and laid a wreath at the Veer Smriti. 

Always wondered about Eligibility Criteria for Grant of Maharatna, Navratna and Miniratna Status ??

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maharatna
maharatna

The eligibility criteria laid down by the Government for grant of Maharatna, Navratna and Miniratna status to Central Public Sector Enterprises (CPSEs) are following:

Criteria for grant of Maharatna status :-

The CPSEs fulfilling the following criteria are eligible to be considered for grant of Maharatna status.

(i) Having Navratna status.
(ii) Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations.
(iii) Average annual turnover of more than Rs. 25,000 crore, during the last 3 years.
(iv) Average annual net worth of more than Rs. 15,000 crore, during the last 3 years.
(v) Average annual net profit after tax of more than Rs. 5,000 crore, during the last 3 years.
(vi) Should have significant global presence/international operations.

Criteria for grant of Navratna status :-

The Miniratna Category – I and Schedule ‘A’ CPSEs, which have obtained ‘excellent’ or ‘very good’ rating under the Memorandum of Understanding system in three of the last five years, and have composite score of 60 or above in the six selected performance parameters, namely,
(i) net profit to net worth,
(ii) manpower cost to total cost of production/services,
(iii) profit before depreciation, interest and taxes to capital employed,
(iv) profit before interest and taxes to turnover,
(v) earning per share and
(vi) inter-sectoral performance.

Criteria for grant of Miniratna status :-

The CPSEs which have made profits in the last three years continuously and have positive net worth are eligible to be considered for grant of Miniratna status.

Presently, there are 7 Maharatna, 16 Navratna and 71 Miniratna CPSEs

Status Update on Iran-Pakistan-India Gas Pipeline

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iran_pakistan

The Minister of State (I/C) for Petroleum & Natural Gas Shri Dharamendra Pradhan informed the Lok Sabha in a written reply today that Iran-Pakistan-India (IPI) Gas Pipeline Project has been under discussion with the Governments of Iran and Pakistan since 2005. 60 MMSCMD of gas is proposed to be supplied in Phase-I, to be shared equally between India and Pakistan. In Phase-II, 90 MMSCMD of gas is envisaged to be supplied. Several rounds of discussions have taken place, involving the India-Pakistan-Iran Joint Working Group (JWG), India-Pakistan JWG and the India-Iran Special JWG. The matter has also been discussed at the Ministerial level. Several critical issues, viz., the delivery point of Iranian gas, the project structure including project finance, guarantees related to safety of the pipeline and security of supply, pricing of gas, location of international seat of arbitration, etc. are yet to be resolved. In view of critical issues remaining unresolved there has been no further development in this project. 

PM visits BARC

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barc_indianbureaucracy
barc_indianbureaucracy

The Prime Minister, Shri Narendra Modi, paid his first visit to Department of Atomic Energy (DAE) in Mumbai today. He was briefed by Dr. R.K. Sinha, Secretary, Department of Atomic Energy and other top officials and scientists at the Bhabha Atomic Research Centre on Indias atomic energy programme; DAEs extensive research and development and education programmes; and DAEs contributions in other areas such as healthcare, especially cancer treatment, food security, solid waste management and water purification. </span><br style="color: #000000;" /><br style="color: #000000;" /><span style="color: #000000;">Referring to the Diamond Jubilee of DAE, which falls on August 3, the Prime Minister asked Department of Atomic Energy to draw up a programme of year-long celebrations, with special focus on the various human and developmental dimensions of atomic science, with special outreach to the youth in schools and colleges throughout the country. The Prime Minister exhorted DAE to present the human face of India’s capabilities in nuclear science throughout the world.</span><br style="color: #000000;" /><br style="color: #000000;" /><span style="color: #000000;">Prime Minister was apprised of the safety and security measures adopted by the DAE and Indias excellent record in this regard. During the visit, which lasted four hours, Prime Minister was also shown some of DAEs most advanced facilities at BARC, including the Dhruva Research Reactor.</span><br style="color: #000000;" /><br style="color: #000000;" /><span style="color: #000000;">Prime Minister expressed his strong appreciation for the extraordinary achievements of Indian scientific community in one of the most complex and challenging fields of science and technology. He said their success was especially creditable because it took place in the face of decades of international technology denial regime; Indias self-reliance in the nuclear fuel cycle and the commercial success of the indigenous reactors demonstrated that with vision, resolve and hard work, India could be a front ranking country in the most challenging fields. 

Prime Minister reiterated his belief that energy security, which was increasingly based on clean and reliable sources of energy, was the critical driver of Indias rapid and sustained long term development. He saw an essential role for nuclear energy in Indias energy strategy, given the scale of demand in India. 

Prime Minister assured the DAE of his full support in the implementation of DAEs ambitious expansion programme and expressed hope that DAE would meet the target of increasing the capacity by three times from the present level of 5780 MW by 2023-24 within the projected cost. He underlined the importance of ensuring that nuclear energy remained commercially viable and competitive with other sources of clean energy in the long run. He also asked DAE to continually upgrade technology, both with regard to our long term plans and international trends. DAE, he said, must also plan for ensuring adequate availability of skilled human resources in the country.</span><br style="color: #000000;" /><br style="color: #000000;" /><span style="color: #000000;">Prime Minister told DAE that nuclear safety and security were of the highest priority for him and asked DAE to ensure that Indias standards and practices were the most advanced in the world. He also asked DAE to pay special attention to the local communities in planning and implementing nuclear power projects. 

He hoped that role of industry in providing equipment and systems for the nuclear programme would continue to grow and recognized that adequate incentive structure should be exist to facilitate that. He noted that we would need to tap additional sources of investments for our ambitious expansion programme. He welcomed India`s growing international partnership in the nuclear energy and hoped for timely implementation of the ongoing projects in a manner that they met the requirements of techno-economic viability and safety standards. Technology transfer to India, he observed, was a vital element of his vision for international partnership in India. 

Prime Minister lauded the contribution of DAE scientists in the critical area of cancer research and treatment through the Tata Memorial Hospital. He hoped that DAE would soon implement the planned projects in Chandigarh and Vishakapatnam and would take one of the most advanced standards of cancer treatment in Asia to other parts of India. 

He also directed DAE to make special efforts to expand its research and extension on a national scale applications of atomic science in areas like healthcare, waste management, water treatment, agriculture and food preservation. 

Prime Minister congratulated DAE on the important milestone of Diamond Jubilee and wished the DAE community continued success in the future. 

The National Security Advisor, Shri Ajit Doval, the Director, BARC and the Secretary AERC, Joint Secretary in the PMO, Shri Javed Ashraf, and Private Secretaries to the PM, Shri Vikram Misri and Shri Sanjiv Singla were also present. 

V G Kannan appointed as MD-SBI

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v-g-kannan

Shri V G Kannan, MD, SBI Capital, has been appointed as Managing Director of State Bank of India

Prior to this, he was the CGM of Mid Corporate Group, SBI Corporate Office at Mumbai. He had joined SBI in the year 1978, and since then, he has held various assignments spanning Credit, Forex and Investments and Retail Banking. He has had considerable experience over 10 years in credit and over 16 years in various aspects of Treasury. He was head of the Banks Forex Department and later on he moved back to into credit and his assignments include heading the Delhi Mid Corporate Region as General Manager. He has had a stint in Retail Banking having served as General Manager of Banks Retail Network in Chennai for 2 years.

He also worked in Hong Kong in Money and Treasury desk.

Sanjay Banga appointed as CVO Indian Rare Earths Ltd. (IREL)

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INDIAN RARE EARTH LIMITED
INDIAN RARE EARTH LIMITED

Shri Sanjay Banga, Indian Engineering Service(93) appointed as CVO in Indian Rare Earths Limited (IREL), Mumbai under Department of Atomic Energy for a period of 3 year.He comes in place of Shri B R Tarafdar the current CVO who joined IREL on April 2014.

B Ashok takes charge as Chairman of IOC

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B Ashok
B Ashok

B Ashok took over as  Chairman of Indian Oil Corp, the nation’s largest oil firm.Prior to his appointment as Chairman IOC, Ashok was ED- Retail Sales and ED at the Corporate Office at New Delhi. A mechanical engineer from College of Engineering, Guindy, Madras University with a Post-Graduate Management degree from National Management Programme of Management Development Institute.Ashok has over 33 years of experience in the oil and gas industry.

Rafale Jet induction on fast track

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Rafale
Rafale

India’s negotiations with French aviation major Dassault for 126 Rafale Medium Multi Role Combat Aircraft (MMRCA) for USD 20 billion “are progressing well” and the contract is likely “sooner than later in the current financial year (2014-15)” a top military commander has said.

The number of Su-30MKI aircraft is also steadily increasing. The IAF has planned induction of 272 Su-30MKIs, periodically upgraded, and nearly 60 percent of them are operational.

The IAF’s proposed strength for combat aircraft is 42 squadrons, to be reached by 2022. Because of the phasing out of the old aircraft like MiG-21s and MiG-23s, the current squadron strength is reported to be 34.

Air Chief Marshal Arup Raha expressed confidence and observed: “Early induction of LCA and MMRCA has been planned for arresting the drawdown in the strength of fighter squadrons…. IAF is likely to have its sanctioned strength of combat squadrons operational sooner than later.”

On the urgent requirement of combat aircraft though, he pointed out: “The MMRCA CNC (Commercial Negotiations Committee) is presently negotiating various aspects of the contract with the L1 vendor, Dassault Aviation of France. The negotiations are progressing well. The contract for 126 MMRCA is expected to be signed sooner than later in the current FY 2014-15.”

Border infra gets Rs 2,250 outlay

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india-pak-border
india-pak-border

Finance Minister Arun Jaitley has allocated Rs 2,250 crore for the modernisation of India’s border infrastructure, besides allocating Rs 990 crore for the socio-economic development of the villages along the borders, in his Budget proposals. This will benefit the villages in Punjab, Jammu and Kashmir and Rajasthan. The border modernisation includes the proposal for strengthening infrastructure along the India-Pakistan border. The government has earmarked Rs 300 crore for the purpose, a sharp increase when compared to an outlay of only Rs 95 crore in the Budget 2013-14 for strengthening the infrastructure along the India-Pakistan border. The border management includes barbed wire fencing, construction of roads, observation posts, installation of flood lighting and other construction activities. Another important provision is the induction of high technology surveillance on the borders along Bangladesh and Pakistan. Rs 367 crore has been allocated for building infrastructure along the India-China border for the current financial year. In the last financial year, Rs 215 crore was allocated for the purpose. In addition, the government has allocated Rs 287.70 crore for setting up border outposts along international borders manned by the Central Armed Police Forces. In the Budget 2013-14, Rs 191 crore was put aside for it. The government has allocated Rs 150 crore for coastal security, which includes setting up mobile check posts, procurement of boats and construction of marine police stations for better surveillance. In the last fiscal, the budget allocated for coastal security was Rs 70 crore. The Budget also focuses on assisting states for dealing with the Left wing extremism. Union Finance Minister Arun Jaitley in his Budget speech said, “I am also allocating adequate funds for carrying out small but much-needed developmental activities as additional central assistance for Left wing extremist-affected districts.” Presently, a total of 182 districts across 20 states are facing the problem of Left wing extremism. The government has allocated Rs 40 crore as assistance to states for Naxal management for the current financial year, as compared to the revised budget of Rs 36 crore for 2013-14. During his speech, the Finance Minister also said the modernisation of state police forces would be reviewed. “I propose to enhance the allocation from Rs 1,847 crore in the BE of 2013-14 to Rs 3,000 crore in the current financial year,” he said. The government has allocated Rs 12,169.51 crore for India’s largest paramilitary and counter-Naxal force, the Central Reserve Police Force (CRPF), for the current financial year. In contrast to this year, the revised Budget of 2013-14 for the CRPF was Rs 11,373.72 crore. The CRPF also assists the states in the maintenance of law and order. The BSF, which guards the India-Pakistan and India-Bangladesh borders, has been allocated Rs 11,242.02 crore for the current financial year, as compared Rs 10,378.77 crore in 2013-14. The ITBP, which guards the India-China border, has been allocated Rs 3082.48 crore, which is lesser than the last fiscal allocation of Rs 3124.33 crore. The Central Industrial Security Force (CISF), which protects the properties of public sector undertakings and other central and state government agencies, has got Rs 4,729.22 crore for the current financial year, as compared to Rs 4391.49 crore in 2013-14. In regard to India’s central intelligence agencies, the government has allocated Rs 101.03 crore for the National Investigation Agency (NIA), as compared to Rs 80.12 crore in the last financial year. Increase in budget for building infrastructure Rs 2,250 cr allocated to strengthen and modernise infrastructure along borders Rs 990 cr kept aside for the socio-economic development of the villages along the borders The border management includes barbed-wire fencing, construction of roads, observation posts, installation of flood lights Rs 367 crore allocated for building infrastructure along the India-China border