Monday, November 26, 2012
Saturday, November 24, 2012
National Investment Fund
On 27 January 2005, the
Government had decided to constitute a 'National Investment Fund' (NIF) into
which the realization from sale of minority shareholding of the Government in
profitable CPSEs would be channelised. The Fund would be maintained outside
the Consolidated Fund of India. The income from the Fund would be used for the
following broad investment objectives:-
(a) | Investment in social sector projects which promote
education, health care and employment; |
|
(b) |
Capital investment in selected profitable and revivable
Public Sector Enterprises that yield adequate returns in order to enlarge
their capital base to finance expansion/ diversification
|
Salient features of NIF:
(i) |
The proceeds from disinvestment of
CPSEs will be channelised into the National
Investment Fund which is to be maintained outside the Consolidated Fund of
India
|
|
(ii) | The corpus of the National Investment Fund will be of a
permanent nature |
|
(iii) |
The Fund will be professionally managed to provide
sustainable returns to the Government, without depleting the corpus.
Selected Public Sector Mutual Funds will be entrusted with the management
of the corpus of the Fund
|
|
(iv) |
75% of the annual income of the Fund will be used to
finance selected social sector schemes, which promote education, health
and employment. The residual 25% of the annual income of the Fund will be
used to meet the capital investment requirements of profitable and
revivable CPSEs that yield adequate returns, in order to enlarge their
capital base to finance expansion/ diversification
|
Fund Managers of NIF
The following Public Sector Mutual Funds have been appointed
initially as Fund Managers to manage the funds of NIF under the ‘discretionary
mode’ of the Portfolio Management Scheme which is governed by SEBI guidelines.
i) | UTI Asset Management Company Ltd. |
|
ii) | SBI Funds Management Company (Pvt.) Ltd. |
|
iii) | LIC Mutual Fund Asset Management Company Ltd. |
Corpus of NIF
The corpus of
the Fund is Rs.1814.45 crore being the proceeds from the disinvestment in Power
Grid Corporation and Rural Electrification Corporation. The pay out on NIF was
Rs.84.81 crore in the year 2008-09, Rs.248.98 crore in the year 2009-10,
Rs.107.32 crore in 2010-11 and Rs. 163.19 crores in 2011-12.
Use of Disinvestment
Proceeds
The income from the Fund is to be
used for the following broad investment objectives:
(a) |
75% to finance selected social sector schemes, which
promote education, health and employment
|
|
(b) |
25% to meet the capital investment requirements of
profitable and revivable CPSEs that yield adequate returns, in order to
enlarge their capital base to finance expansion/diversification
|
However, in view of the difficult economic
situation caused by the global
slowdown of 2008-09 and a severe drought that was likely to adversely
affect
the 11th Plan growth performance, the Government, in November 2009,
decided to
give a one-time exemption to utilization of proceeds from
disinvestment of
CPSEs for a period of three years – from April 2009 to March 2012 –
i.e.
disinvestment proceeds during this period would be available in full
for
meeting the capital expenditure requirements of selected social sector
programmes decided by the Planning Commission/Department of
Expenditure. Now as the Country is facing very difficult economic
conditions due to Continued financial/economic
problems in Europe, impacting the economic growth in India, higher
subsidy burden relating to petroleum, food and fertilizers, high
Interest rate impacting the manufacturing sector, affecting
excise collection, falling revenue collection, the exemption cited
above has been extended upto March 2013.
Accordingly, from April 2009, the disinvestment proceeds are being routed through NIF to be used in full for funding capital expenditure under the social sector programmes of the Government, namely:-
Accordingly, from April 2009, the disinvestment proceeds are being routed through NIF to be used in full for funding capital expenditure under the social sector programmes of the Government, namely:-
(i) | Mahatma Gandhi National Rural Employment Guarantee Scheme |
|
(ii) | Indira Awas Yojana |
|
(iii) | Rajiv Gandhi Gramin Vidyutikaran Yojana |
|
(iv) | Jawaharlal Nehru National Urban Renewal Mission |
|
(v) | Accelerated Irrigation Benefits Programme |
|
(vi) | Accelerated Power Development Reform Programme |
Friday, November 23, 2012
Share of Small Farmers in Farm Loans Grows to 45%
The agriculture credit flow during the year 2009-10,
2010-11 and 2011-12 was Rs. 3,84,514 crore, Rs.4,68,291 crore and
Rs. 5,11,029 crore respectively. During this period credit flow to
small and marginal farmers was Rs. 1,22,654 crore, Rs. 1,67,739 crore
and Rs. 2,27,835 crore respectively which is 32%, 36% and 45% of the
total loan disbursed to the farmers during these years.
The Government has taken several measures to improve credit flow to small and marginal farmers. These measures, inter alia, includes fixation of annual targets for improving agricultural credit flow, provision of crop loans upto Rs. 3.00 lakh @ 4% per annum to such farmers who repay their loan as per the repayment schedule fixed by the banks, extention of benefit of interest subvention scheme to small & marginal farmers having Kisan Credit Card for a further period upto six months for storing their produce in warehouses against negotiable warehouse receipts, collateral free loan upto Rs. 1.00 lakh, implementation of revival package for short term cooperative credit structure in the country etc.
The Government has taken several measures to improve credit flow to small and marginal farmers. These measures, inter alia, includes fixation of annual targets for improving agricultural credit flow, provision of crop loans upto Rs. 3.00 lakh @ 4% per annum to such farmers who repay their loan as per the repayment schedule fixed by the banks, extention of benefit of interest subvention scheme to small & marginal farmers having Kisan Credit Card for a further period upto six months for storing their produce in warehouses against negotiable warehouse receipts, collateral free loan upto Rs. 1.00 lakh, implementation of revival package for short term cooperative credit structure in the country etc.
MNRE Sanctions Funds to 41 Cities Under “Development of Solar Cities” Programme
The Ministry of New and Renewable Energy is
implementing a Scheme on ’Development of Solar Cities’ which provides
support for 60 cities to develop as Solar Cities in the country. The
Ministry has given sanctions for 41 cities for developing as Solar
Cities. Gandhinagar, Nagpur, Chandigarh and Mysore are being developed
as Model Solar Cities. The Ministry has approved the Master Plants for
the 28 Cities and the project installations have already started in few
cities.
In pursuance of the programme, a one day ‘National Meet on Solar Cities’ was inaugurated by Shri Gireesh B Pradhan, Secretary, Ministry of New and Renewable Energy on 22nd November 2012, at India International Centre, New Delhi. The Secretary asked the Municipal Corporations to enhance the use of renewable energy in their area and save the fossil fuel based energy. They can amend the building bye-laws suitably to promote the solar water heaters, solar SPV rooftop systems, kitchen waste based plants in the various establishments of the city. Smt. Nisha Singh Joint Secretary, Ministry of Urban Development, emphasized the need for the concerned Ministries to work in coordination with each other.
About 150 persons actively participated in the one day event including the representatives of Municipal Corporations, Developers, Financial Institutions, International Agencies, Manufactures, Investors, Technology Providers and State Nodal Agencies, banks etc. The aim of this meet was to discuss the “Ways Forward” after Master Plan for execution of renewable energy/energy efficiency related projects in respective solar cities. The Municipal Commissioners of Thane, Mysore and Shimla actively participated in the event.
In pursuance of the programme, a one day ‘National Meet on Solar Cities’ was inaugurated by Shri Gireesh B Pradhan, Secretary, Ministry of New and Renewable Energy on 22nd November 2012, at India International Centre, New Delhi. The Secretary asked the Municipal Corporations to enhance the use of renewable energy in their area and save the fossil fuel based energy. They can amend the building bye-laws suitably to promote the solar water heaters, solar SPV rooftop systems, kitchen waste based plants in the various establishments of the city. Smt. Nisha Singh Joint Secretary, Ministry of Urban Development, emphasized the need for the concerned Ministries to work in coordination with each other.
About 150 persons actively participated in the one day event including the representatives of Municipal Corporations, Developers, Financial Institutions, International Agencies, Manufactures, Investors, Technology Providers and State Nodal Agencies, banks etc. The aim of this meet was to discuss the “Ways Forward” after Master Plan for execution of renewable energy/energy efficiency related projects in respective solar cities. The Municipal Commissioners of Thane, Mysore and Shimla actively participated in the event.
Infant/Child Mortality Rate
The number of infant/child mortality cases is not
reported at the national level. The Infant Mortality Rate has shown
consistent 3 point annual decline since 2008. As per SRS report of
Registrar General of India, IMR has declined from 53 per 1000 live
births in 2008 to 44 per 1000 live births in 2011.
Under National Rural Health Mission (NRHM), flagship programme of the Ministry of Health and Family Welfare, Government of India, the following interventions are implemented to reduce neonatal and child mortality rates in the country:
1) Promotion of Institutional Delivery through Janani Suraksha Yojana (JSY) and Janani Shishu Suraksha Karyakram (JSSK): Promoting Institutional delivery to ensure skilled birth attendance is key to reducing both maternal and neo-natal mortality. JSY incentivizes pregnant women to opt for institutional delivery and provides for cash assistance. JSSK entitles all pregnant women to absolutely free and zero expense delivery including caesarean section operation in Government health facilities and provides for free to and fro transport, food, drugs and diagnostics. Similar entitlements have also been put in place for sick neonates.
2) Strengthening Facility based newborn care: Newborn care corners (NBCC) are being set up at all health facilities where deliveries take place to provide essential newborn care at birth to all new born babies; Special New Born Care Units (SNCUs) at District Hospitals and New Born Stabilization Units (NBSUs) at FRUs are being set up for the care of sick newborn. As on date 399 SNCUs, 1542 NBSUs and 11508 NBCCs are functional across the country.
3) Home Based Newborn Care (HBNC): Home based newborn care through ASHA has recently been initiated to improve new born care practices at the community level and for early detection and referral of sick new born babies. The schedule of home visits by ASHA consists of at least 6 visits in case of institutional deliveries, on days 3, 7, 14, 21, 28 & 42nd days and one additional visit within 24 hours of delivery in case of home deliveries. Additional visits will be made for babies who are pre-term, low birth weight or ill.
4) Capacity building of health care providers: Various trainings are being conducted under National Rural Health Mission (NRHM) to build and upgrade the skills of doctors, nurses and ANM for early diagnosis and case management of common ailments of children and care of newborn at time of birth. These trainings include Integrated Management of Neo-natal and Childhood Illness (IMINCI) and Navjaat Shishu Surakshta Karyakaram (NSSK). A total of 5.5 lakh health care workers have been trained in IMNCI in 471districts and 88,428 health workers trained in NSSK so far.
5) Management of Malnutrition: Emphasis is being laid on reduction of malnutrition which is an important underlying cause of child mortality. 647 Nutritional Rehabilitation Centres have been established for management of Severe Acute Malnutrition (SAM). Iron and Folic Acid is also provided to children for prevention of anaemia. Recently, weekly Iron and Folic Acid is proposed to be initiated for adolescent population. As breastfeeding reduces infant mortality, exclusive breastfeeding for first six months and appropriate infant and young child feeding practices are being promoted in convergence with Ministry of Woman and Child Development.
6) Village Health and Nutrition Days (VHNDs) are also being organized for imparting nutritional counseling to mothers and to improve child care practices.
7) Universal Immunization Program (UIP): Vaccination against seven diseases is provided to all children under UIP. Government of India supports the vaccine program by supply of vaccines and syringes, cold chain equipments and provision of operational costs. UIP targets to immunize 2.7 crore infants against seven vaccine preventable diseases every year. 21 states with more than 80% coverage have incorporated second dose of Measles in their immunization program. Pentavalent vaccine has been introduced in two states of Kerala and Tamil Nadu and proposed to be scaled up in six more states. Year 2012-13 has been declared as ‘Year of intensification of Routine Immunization’. India has achieved a historic milestone by remaining polio free for one full year now. WHO has taken India off the list of polio endemic countries.
8) Mother and Child Tracking System: A name based Mother and Child Tracking System has been put in place which is web based to enable tracking of all pregnant women and newborns so as to monitor and ensure that complete services are provided to them. States are encouraged to send SMS alerts to beneficiaries reminding them of the dates on which services are due and generate beneficiary-wise due list of services with due dates for ANMs on a weekly basis.
Under National Rural Health Mission (NRHM), flagship programme of the Ministry of Health and Family Welfare, Government of India, the following interventions are implemented to reduce neonatal and child mortality rates in the country:
1) Promotion of Institutional Delivery through Janani Suraksha Yojana (JSY) and Janani Shishu Suraksha Karyakram (JSSK): Promoting Institutional delivery to ensure skilled birth attendance is key to reducing both maternal and neo-natal mortality. JSY incentivizes pregnant women to opt for institutional delivery and provides for cash assistance. JSSK entitles all pregnant women to absolutely free and zero expense delivery including caesarean section operation in Government health facilities and provides for free to and fro transport, food, drugs and diagnostics. Similar entitlements have also been put in place for sick neonates.
2) Strengthening Facility based newborn care: Newborn care corners (NBCC) are being set up at all health facilities where deliveries take place to provide essential newborn care at birth to all new born babies; Special New Born Care Units (SNCUs) at District Hospitals and New Born Stabilization Units (NBSUs) at FRUs are being set up for the care of sick newborn. As on date 399 SNCUs, 1542 NBSUs and 11508 NBCCs are functional across the country.
3) Home Based Newborn Care (HBNC): Home based newborn care through ASHA has recently been initiated to improve new born care practices at the community level and for early detection and referral of sick new born babies. The schedule of home visits by ASHA consists of at least 6 visits in case of institutional deliveries, on days 3, 7, 14, 21, 28 & 42nd days and one additional visit within 24 hours of delivery in case of home deliveries. Additional visits will be made for babies who are pre-term, low birth weight or ill.
4) Capacity building of health care providers: Various trainings are being conducted under National Rural Health Mission (NRHM) to build and upgrade the skills of doctors, nurses and ANM for early diagnosis and case management of common ailments of children and care of newborn at time of birth. These trainings include Integrated Management of Neo-natal and Childhood Illness (IMINCI) and Navjaat Shishu Surakshta Karyakaram (NSSK). A total of 5.5 lakh health care workers have been trained in IMNCI in 471districts and 88,428 health workers trained in NSSK so far.
5) Management of Malnutrition: Emphasis is being laid on reduction of malnutrition which is an important underlying cause of child mortality. 647 Nutritional Rehabilitation Centres have been established for management of Severe Acute Malnutrition (SAM). Iron and Folic Acid is also provided to children for prevention of anaemia. Recently, weekly Iron and Folic Acid is proposed to be initiated for adolescent population. As breastfeeding reduces infant mortality, exclusive breastfeeding for first six months and appropriate infant and young child feeding practices are being promoted in convergence with Ministry of Woman and Child Development.
6) Village Health and Nutrition Days (VHNDs) are also being organized for imparting nutritional counseling to mothers and to improve child care practices.
7) Universal Immunization Program (UIP): Vaccination against seven diseases is provided to all children under UIP. Government of India supports the vaccine program by supply of vaccines and syringes, cold chain equipments and provision of operational costs. UIP targets to immunize 2.7 crore infants against seven vaccine preventable diseases every year. 21 states with more than 80% coverage have incorporated second dose of Measles in their immunization program. Pentavalent vaccine has been introduced in two states of Kerala and Tamil Nadu and proposed to be scaled up in six more states. Year 2012-13 has been declared as ‘Year of intensification of Routine Immunization’. India has achieved a historic milestone by remaining polio free for one full year now. WHO has taken India off the list of polio endemic countries.
8) Mother and Child Tracking System: A name based Mother and Child Tracking System has been put in place which is web based to enable tracking of all pregnant women and newborns so as to monitor and ensure that complete services are provided to them. States are encouraged to send SMS alerts to beneficiaries reminding them of the dates on which services are due and generate beneficiary-wise due list of services with due dates for ANMs on a weekly basis.
Foreign National to Open Banks in India
As per the “Draft Guidelines for Licencing of New
Banks in Private Sector” issued by the Reserve Bank of India (RBI) on
29.08.2011, only entities/groups in the private sector that are owned
and controlled by residents shall be eligible to promote banks.
RBI has formulated the Know Your Customer (KYC) norms/Anti-Money Laundering (AML) standards/Combating of Financing of Terrorism (CFT) guidelines to be followed by banks, so as to prevent banks from being used, intentionally or unintentionally, by criminal elements for money-laundering or terrorist financing activities. KYC procedures also enables banks to know/understand their customers and their financial dealings better, which in-turn help them manage their risk prudently. Accordingly, all banks, including foreign banks, functioning in India have been advised to follow certain customer identification procedures for opening of accounts and monitoring transactions of a suspicious nature for the purpose of reporting it to appropriate authority, i.e. Financial Intelligence Unit-India (FIU-IND). The banks are also required to ensure that a proper Board approved policy framework on KYC/AML/CFT is formulated and implemented by them in accordance with the extant legal and regulatory framework.
RBI has formulated the Know Your Customer (KYC) norms/Anti-Money Laundering (AML) standards/Combating of Financing of Terrorism (CFT) guidelines to be followed by banks, so as to prevent banks from being used, intentionally or unintentionally, by criminal elements for money-laundering or terrorist financing activities. KYC procedures also enables banks to know/understand their customers and their financial dealings better, which in-turn help them manage their risk prudently. Accordingly, all banks, including foreign banks, functioning in India have been advised to follow certain customer identification procedures for opening of accounts and monitoring transactions of a suspicious nature for the purpose of reporting it to appropriate authority, i.e. Financial Intelligence Unit-India (FIU-IND). The banks are also required to ensure that a proper Board approved policy framework on KYC/AML/CFT is formulated and implemented by them in accordance with the extant legal and regulatory framework.
Saturday, November 17, 2012
India seen 2nd-most competitive economy in the world
India is likely to emerge as the second most competitive economy in the world after China in terms of manufacturing in the next five years, says a report.
According to the 2013 Global Manufacturing Competitiveness Index compiled by Deloitte Touche Tohmatsu and the US Council on Competitiveness, five years from now, emerging economies would surge to occupy the top three spots.
China would retain the top spot, while, India and Brazil moving up to claim second and third rankings respectively, the report said.
"India's focused and comprehensive national manufacturing strategy, democratic governance and infrastructure development over the next five years may unlock the potential for CEOs around the world to see this rising star," the report said.
The five developed economy nations that were ranked in the top 10 today include -- Germany (2nd), the US (3rd), South Korea (fifth), Canada (seventh) and Japan (tenth), while five emerging economy nations were also ranked in the top 10 today:
China (first), India (fourth), Taiwan (sixth), Brazil (eighth), and Singapore (ninth).
Meanwhile, in the next five years developed economy nations are likely to slip lower in the executive rankings with Germany moving from second to fourth, the US from third to fifth, South Korea from fifth to sixth, Canada from seventh to eighth and Japan falls out of the top 10 moving from tenth to twelfth.
Brazil's jump from eighth to third is the largest jump expected over the next five years. And, Vietnam moves into the top 10 as the tenth most competitive nation.
According to the report talent-driven innovation is deemed the most critical driver of a nation's competitiveness, while, second most important driver position is the economic, trade, financial and tax system of a nation.
This study, gathers data from more than 550 CEOs and senior manufacturing leaders and rank the 38 countries in terms of their manufacturing competitiveness at present and in the next five years.
Sunday, November 11, 2012
Ghulam Nabi Azad Chairs the Opening Session of International Conference on Population and Development at Dhaka
Partners in Population and Development
(PPD) is an intergovernmental initiative
created specifically for the purpose of expanding and improving South-to-South
collaboration in the fields of reproductive health, population, and
development.
PPD was launched at the 1994 International Conference on
Population and Development (ICPD), when ten developing countries from Asia,
Africa and Latin America formed an
intergovernmental alliance to help implement the Cairo Program of Action (POA).
PPD has presently 25 members countries committed to the
implementation of the ICPD Programme of Action, willing to provide political,
technical and financial support to South-South Cooperation. While there were
only 10 developing countries at the time of formation of the Organization in
1994, over the years PPD’s membership has increased to 25 developing countries
across Asia, Middle East and North Africa, Sub-Saharan Africa and Latin America covering more than 57% of total world
population. The PPD member countries are: Bangladesh ,
China , India , Indonesia ,
Pakistan , Thailand , Viet Nam ,
Colombia , Mexico , Egypt ,
Morocco , Tunisia , Yemen ,
Jordan , Ethiopia , The Gambia, Ghana ,
Kenya , Mali , Uganda ,
Benin , Senegal , Zimbabwe ,
South Africa and Nigeria .
PPD is currently chaired by Shri Ghulam
Nabi Azad, Minister of Health and Family Welfare,
Government of India, who has been unanimously elected to the post in the 16th
Annual Board Meeting of PPD held in Pretoria , South Africa
in 2011.
Shri Ghulam Nabi
Azad, Minister of Health and Family Welfare, Government of India, who is
currently on an official tour to Bangladesh capital Dhaka, today participated
in the opening session of the two-day International Conference on “Evidence for
Action: South-South Collaboration for ICPD beyond 2014”, organized jointly by
Partners in Population and Development (PPD) and the Government of People’s
Republic of Bangladesh.
South African Government Rolled Out Nelson Mandela Bank Notes
The South African Reserve Bank on 6 November 2012 rolled out new bank
notes bearing the face of the country’s first black President Nelson
Mandela marking it as a tribute to him.
The Note issued by the South African Reserve Bank, displayed the 94-year-old anti-apartheid icon’s smiling face.
Also, the earlier images of one of the five big animals featured on the old bank notes – lion, leopard, rhino, buffalo and elephant – will be retained on the reverse of the note.
Nelson Mandela is currently living out his retirement in his childhood rural village of Qunu in the Eastern Cape Province.
Nelson Mandela held office between 1994 and 1999 and he is the first black face to appear on South African money.
The Note issued by the South African Reserve Bank, displayed the 94-year-old anti-apartheid icon’s smiling face.
Also, the earlier images of one of the five big animals featured on the old bank notes – lion, leopard, rhino, buffalo and elephant – will be retained on the reverse of the note.
Nelson Mandela is currently living out his retirement in his childhood rural village of Qunu in the Eastern Cape Province.
Nelson Mandela held office between 1994 and 1999 and he is the first black face to appear on South African money.
Government Schemes in India
Pradhan Mantri Gram Sadak Yojana(PMGSY):
Indira Awaas Yojana(IAY):
NSE 4th largest in number of listed funds
NSE has emerged as the world's fourth largest stock exchange in terms of
the number of listed investment funds on its platform, but the Indian
bourse ranks low when it comes to the trading turnover of such funds.
For the Asia Pacific region, the National Stock Exchange (NSE) ranks on the top in terms of total number of investment funds, as per the latest data from World Federation of Exchanges (WFE) as on September 30, 2012.
NSE has managed a high rank despite a continuous decline in the number of listed investment funds to 1,060 at the end of September, the data shows.
The number of funds listed at NSE stood at 1,223 in January and came down to 1,060 in August this year.
The exchanges ranked on the top three positions included Luxembourg SE with 6,385 investment funds, followed by BME Spanish Exchanges and Deutsche Borse with 3,034 and 2,832 funds respectively.
Other exchanges that figure in the top 10 are Mexican Exchange (5th), NYSE Euronext (US) (6th), MICEX / RTS (7th), NASDAQ OMX Nordic Exchange (8th), Shenzhen SE (9th) and Santiago SE (10th).
However, NSE has scored among lowest globally in terms of turnover from the investment funds in September.
The turnover from investment funds were a mere USD 64,000 in the month.
Comparatively, NASDAQ OMX recorded the highest turnover from investment funds at USD 7,457 million followed by Shenzhen SE at USD 5,292 million.
Investment funds include UCITS (Undertakings for Collective Investment in Transferable Securities), listed unit trusts, closed-end funds and investment trusts, WFE said.
These are collective funds managed by an investment trust company (a company established with the purpose of investing in other companies) or a management team.
UCITS, listed unit trusts, closed-end funds and investment trusts are all different forms of collective investment, depending on a country's legislation.
For the Asia Pacific region, the National Stock Exchange (NSE) ranks on the top in terms of total number of investment funds, as per the latest data from World Federation of Exchanges (WFE) as on September 30, 2012.
NSE has managed a high rank despite a continuous decline in the number of listed investment funds to 1,060 at the end of September, the data shows.
The number of funds listed at NSE stood at 1,223 in January and came down to 1,060 in August this year.
The exchanges ranked on the top three positions included Luxembourg SE with 6,385 investment funds, followed by BME Spanish Exchanges and Deutsche Borse with 3,034 and 2,832 funds respectively.
Other exchanges that figure in the top 10 are Mexican Exchange (5th), NYSE Euronext (US) (6th), MICEX / RTS (7th), NASDAQ OMX Nordic Exchange (8th), Shenzhen SE (9th) and Santiago SE (10th).
However, NSE has scored among lowest globally in terms of turnover from the investment funds in September.
The turnover from investment funds were a mere USD 64,000 in the month.
Comparatively, NASDAQ OMX recorded the highest turnover from investment funds at USD 7,457 million followed by Shenzhen SE at USD 5,292 million.
Investment funds include UCITS (Undertakings for Collective Investment in Transferable Securities), listed unit trusts, closed-end funds and investment trusts, WFE said.
These are collective funds managed by an investment trust company (a company established with the purpose of investing in other companies) or a management team.
UCITS, listed unit trusts, closed-end funds and investment trusts are all different forms of collective investment, depending on a country's legislation.
List of Government Programs & Schemes of India
-
1952: Community Development Programme (CDP)overall development of rural areas and people’s participation.
-
1960-61: Intensive Agriculture Development program (IADP)To provide loan for seeds and fertilizers to farmers
-
1964-65: Intensive Agriculture Area programme (IAAP)To develop special harvest in agriculture area.
-
1965 : Credit Authorization Scheme (CAS)Involved qualitative credit control of reserve bank of India
-
1966-67: High yielding variety programme (HYVP)To increase the productivity of food grains by adopting latest varieties of inputs of crops.
-
1966-67: Green Revolution:To Increase productivity. Confined to wheat production.
-
1969: Rural Electrification CorporationTo provide electricity in rural areas
-
1972 : Scheme of Discriminatory Interest RateTo provide loan to the weaker sections of society at a concessional interest rate of 4%
-
1972-73 : Accelerated Rural water Supply Programme (ARWSP)
Providing drinking water in villages -
1973: Drought Prone Area Programme:
Protection from drought by achieving environement balace and by developing ground water -
1973: Crash Scheme for Rural Employment CSRE
For rural employment -
1973-74 : Marginal Farmer and Agriculture Labor Agency (MFALA)
Technical & financial assistance to marginal farmers -
1974-75: Small Farmer Development Scheme SFDS
Technical & financial assistance to small farmers -
1975: Command Area Development Programme: (CADP)
Better utilization of irrigational capacities -
1975: Twenty Point Programme (TPP)
Poverty eradication and an overall objective of raising the level living -
1977: National Institution of Rural Development
Training, investigation and advisory for rural development -
1977-78 : Desert Development Programme: (DDP)
To control the desert expansion by maintaining environment balance -
1977-78: Food For Work Programme:providing food grains to labor
-
1977-78 : Antyodaya Yojna :
Scheme of Rajasthan, providing economic assistance to poorest families -
1979 : Training Rural Youth for Self Employment TRYSEM (launched on 15th August)
educational and vocational training -
1980 : Integrated Rural Development Programme :IRDP (launched on October 2, 1980)overall development of rural poor
-
1980 : National Rural Development programme NREP
employment for rural manforce -
1982 : Development of Women & Children in Rural Areas (DWCRA)
sustainable opportunities of self employment to the women belonging to the rural families who are living below the poverty line. -
1983 : Rural Landless Employment Guarantee Programme (RLEGP) (Launched on August 15)employment to landless farmers and laborers
-
1983-84: Farmers Agriculture Service Centers FASCs
Tell the people use of improved instruments of agriculture -
1984 : National Fund for Rural Development : To grant 100% tax rebate to donors and also to provide financial assistance for rural development projects
-
1985: Comprehensive Crop Insurance Scheme:
Crop Insurance -
1986: Council of Advancement of People’s Action & Rural Technology (CAPART)
Assistance to rural people -
1986: Self Employment Programme for the Poor SEPUP
Self employment through credit and subsidy -
1986: National Drinking Water Mission:
For rural drinking water renamed and upgraded to Rajiv Gandhi National Drinking Water Mission in 1991. -
1988: Service Area Account
Rural Credit -
1989: Jawahar Rozgar Yojna : JRY
Employment to rural unemployed -
1989: Nehru Rozgar Yojna NRY
Employment to Urban unemployed -
1990: Agriculture & Rural Debt Relief Scheme: ARDRS
Exempt Bank loans up to Rs. 10000 for rural artisans and weavers -
1990: Scheme for Urban Micro Enterprises SUME
Assist urban small entrepreneurs -
1990: Scheme of Urban wage Employment SUWEScheme for urban poor’s
-
1990: Scheme of Housing and Shelter Upgradation (SHASU)
Providing employment by shelter Upgradation -
1991: National Housing Bank Voluntary Deposit Scheme
Using black money by constructing low cost housing for the poor. -
1992: National Renewal Fund
This scheme was for the employees of the public sector -
1993: Employment Assurance Scheme (EAS) (Launched on October, 2)Employment of at least 100 days in a year in villages
-
1993: Members of parliament Local Area Development Scheme MPLADS (December 23, 1993)
Sanctioned 1 crore per year for development works -
1994: Scheme for Infrastructural Development in Mega Cities : SIDMC
Water supply, sewage, drainage, urban transportation, land development and improvement slums projects in metro cities -
1993: District Rural Development Agency DRDA
Financial assistance to rural people by district level authority -
1993 : Mahila Samridhi Yojna (October 2, 1993)
Encourage rural women to deposit in Post office schems -
1994 : Child labor Eradication Scheme
Shift child labour from hazardous industries to schools -
1995: prime Minister Integrated Urban Poverty Eradication programme PMIUPEP
To eradicate urban poverty -
1995 : Mid day Meal Scheme:
Nutrition to students in primary schools to improve enrolment, retention and attendence -
1996: Group Life Insurance Scheme for Rural Areas
Insurance in rural area for low premium -
1995: national Social Assistance programme:
Assist BPL people. -
1997-98; Ganga Kalyan Yojna
Provide financial assistance to farmers for exploring ground water resources -
1997 Kastoorba Gandhi Education Scheme: (15 August 1997)
Establish girls schools in low female literacy areas (district level) -
1997: Swaran Jayanto Shahari Rojgar Yojna:Urban employment
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1998: Bhagya Shree Bal Kalyan Policy
Upliftment of female childs -
March 1999 : Annapurna Yojna10 kgs food grains to elderly people
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April 1999: Swaran Jayanto Gram Swarojgar YojnaSelf employment in rural areas
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April 1999: Jawahar Gram Samriddhi YojnaVillage infrastructure
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August 2000 : Jan Shree Bima YojnaInsurance for BPL people
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2000 : Pradhan Mantri Gramodaya YojnaBasic needs of rural people
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December 25, 2000 : Antyodaya Anna YojnaTo provide food security to poor
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December 25, 2000 : Pradhan Mantri Gram Sadak Yojna:Connect all villages with nearest pukka road.
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September 2001: Sampoorna Grameen Rozgar YojnaEmployment and food security to rural people
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December 2001: Valmiki Ambedkar Awas Yojna VAMBAYSlum houses in urban areas
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2003: Universal health Insurance Scheme:Health insurance for Rural people
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2004: Vande mataram Scheme VMSInitiative of public Private partnership during pregnecy check up.
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2004: National Food for Work programmeSupplementary wage as foodgrains for work
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2004: Kastoorba Gandhi Balika VidyalayaSetting up residential schools at upper primary levels for girls belonging to predominantly OBC, SC & ST
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2005: Janani Suraksha YojnaProviding care to pregnant women
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2005, Dec. 16 : Bharat NirmanDevelopment of India through irrigation, Water supply, Housing, Road, Telephone and electricity
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2005: National Rural Health Mission:
Accessible, affordable, accountable, quality health survices to the porest of the poor on remotest areas of the country. -
2005: Rajeev Gandhi Grameen Vidyuti Karan Yojna:
Extending electrification of all villages and habitations and ensuring electricity to every household. -
2005: Jawahar Lal Nehru national Urban Renewal Mission: (JNNURM)
Click here to read more -
2006: February 2 : National Rural Employment Guarantee Scheme NREGS100 days wage employment for development works in rural areas.
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2007: Rastriya Swasthya Bima Yojna :
Health insurance to all workers in unorganized area below poverty line. -
2007: Aam Aadmi Bima Yojna
Insurance cover to the head of the family of rural landless households in the country. -
2009: Rajiv Awas Yojna
To make India slum free in 5 years
- National Food for Work program was merged with NREGA
- Sampoorna Grameen Rojgar Yojna merged with NREGA
- Intesified Jawhar Rozgar Yojna 1993 was merged with Employment Assurance Scheme 1996 which was later merged with Sampoorna grameen Rozgar Yojna 2001.
- IRDP , TRYSEM, DWCRA, Million Wells Scheme, SITRA & Ganga kalian Yojna merged with Swaran jayanti Gram Swarojgar Yojna.
- Rural Landless Employment Guarantee programme merged with Jawahar Rojgar Yojna which was replaced by Jawahar Gram Samridhi Yojna (1999) and Jawahar Gram Samridhi Yojna was merged with Sampoorna grameen Rojgar Yojna (2001)
Friday, November 9, 2012
India set to join talks for world’s largest trade bloc
India is set to join talks for creating the world's largest trade bloc, the Regional Comprehensive Economic Partnership or RCEP, comprising Asean members and three manufacturing giants — China , Japan and South Korea — after a committee headed by Prime Minister Manmohan Singh endorsed the move.
The 16 members who will launch talks in Phnom Penh later this month account for over a quarter of the world economy.
Trade & Economic Relations Committee (TERC) signals the government's intent to drive down import duties further in the coming years, a proposal that may not get too much support from the domestic industry.
In return, the government is hoping to get a sweeter deal for Indian nurses, teachers and auditors who want to work in any of the 16 initial members of the proposed RCEP, which will also have Australia and New Zealand. Of course, this will come with the promise of allowing overseas companies easier access by giving them more flexibility in FDI rules.
The biggest concern, however , is the China factor as the Indian government has so far hesitated in entering into any sort of a trade arrangement with Beijing, fearing that the market would be flooded with cheap imports and make the trade deficit look even grimmer . But TERC is learnt to have taken the view that it would be imprudent to ignore RCEP as India was taking a 'Look East' view of the world.
Besides, it is seen as the trading region of the future, with trade expanding rapidly. The fear in government circles is that entering the bloc late would entail higher commitments , including a steeper reduction in import tariffs.
RCEP is seen as a counter to the Trans-Pacific Partnership, which had Asean members such as Singapore and Malaysia apart from New Zealand as a founding member, but the agenda is now largely driven by the US, backed by Canada and Mexico.
The 16 members who will launch talks in Phnom Penh later this month account for over a quarter of the world economy.
Trade & Economic Relations Committee (TERC) signals the government's intent to drive down import duties further in the coming years, a proposal that may not get too much support from the domestic industry.
In return, the government is hoping to get a sweeter deal for Indian nurses, teachers and auditors who want to work in any of the 16 initial members of the proposed RCEP, which will also have Australia and New Zealand. Of course, this will come with the promise of allowing overseas companies easier access by giving them more flexibility in FDI rules.
The biggest concern, however , is the China factor as the Indian government has so far hesitated in entering into any sort of a trade arrangement with Beijing, fearing that the market would be flooded with cheap imports and make the trade deficit look even grimmer . But TERC is learnt to have taken the view that it would be imprudent to ignore RCEP as India was taking a 'Look East' view of the world.
Besides, it is seen as the trading region of the future, with trade expanding rapidly. The fear in government circles is that entering the bloc late would entail higher commitments , including a steeper reduction in import tariffs.
RCEP is seen as a counter to the Trans-Pacific Partnership, which had Asean members such as Singapore and Malaysia apart from New Zealand as a founding member, but the agenda is now largely driven by the US, backed by Canada and Mexico.
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