Indian Navy Chief Admiral RK Dhowan to Visit Australia
In another boost for defence ties with Australia, Indian Navy Chief Admiral RK Dhowan will be the country from October 2-7 for meetings with its top leadership, an official statement Released.
The forum provides opportunities to engage with the heads of over 40 navies.
The statement said the visit aims to "consolidate existing Maritime Cooperation initiatives as well as explore new avenues."
Maritime cooperation between Australia and India has been robust, with the two recently conducting the first bilateral exercise Ausindex.
The two nations signed a Defence Cooperation Agreement in 2006 as well as a Framework for Defence Cooperation in 2014, which envisages regular ship visits as well as high level exchanges.
"India-Australia share similar maritime challenges such as long coastline, extensive EEZ, coastal security, large coastal shipping and fishing fleet, where in both Navies have opportunities to learn from each other's experiences," the statement said.
The statement added that common grounds exists for cooperation in ship-building, especially under the "Make in India" initiative.
Admiral Dhowan, during his visit, will meet the chief of the Royal Australian Navy, vice chief of defence staff, defence secretary and other senior naval officers.
PM Modi Launches Mudra Scheme in Jharkhand
Prime Minister Narendra Modi today launched the Mudra scheme in Dumka under which people can take loans up to Rs. 10 lakh to start businesses.
"The Mudra scheme is one step forward to accelerate development in the country. Till now, 42 lakh people have taken benefits under the Mudra scheme and loans of Rs.26,000 crore have been given," PM Modi said while launching the scheme in the state.
"Of these 42 lakh people, 20 lakh are women. This is the best example of empowerment of women, who will become a part of the development," he said, pointing out that interest would have to be paid on the amount withdrawn through the debit card and not on the entire loan amount.
The Pradhan Mantri MUDRA (Micro Units Development and Refinance Agency) Yojana was launched in April to help small entrepreneurs. In Jharkhand, around one lakh people have been given loans under the Mudra scheme.
PM Modi also criticised political rivals who talked about poor people. "Politics has been done in the last 60 years in the name of the poor but no one thought about mothers cooking food by burning fuelwood. We have till now given LPG cylinders to 18 lakh poor people. On my appeal, 31 lakh people have given up LPG cylinder subsidies," the prime minister added.
"Today is the birth anniversary of Mahatma Gandhi and he will be happy if forests are saved by not cutting trees for fuelwood to cook food," PM Modi said.
ICICI among 10 banks to cut loan rates by up to 40bps
Over 10 banks, including the country's second largest lender ICICI Bank, have reduced their lending rates in the wake of Tuesday's half-a-percentage-point cut in the repo rate by the RBI.
ICICI Bank on Thursday announced a reduction of 35 basis points in its base rate with effect from October 5, 2015 (100bps = 1 percentage point). The revised rate will be 9.35% per annum as against 9.70% at present.
Kotak Mahindra Bank slashed its base rate by 25 basis points to 9.5%, effective October 5. Yes Bank also cut its base rate by 25 basis points to 10.25%. State Bank of Travancore cut its base rate by 25 basis points to 9.95% from 10.15%. The State Bank of Bikaner and Jaipur, another associate bank, revised its base rate to 9.7% from 9.95% with effect from October 5.
The Central Bank of India also reduced its base rate by 25 basis points from 9.95% to 9.7% with effect from October 8. Allahabad Bank has cut its base rate by 25 basis points to 9.7% from 9.95% with effect from October 5.
PNB, Bank of Baroda and Oriental Bank of Commerce have also reduced their base rate by 40 basis points, 25 basis points and 20 basis points to 9.6%, 9.65% and 9.7%, respectively.
On Swacchh Bharat Anniversary, Delhi Municipal Council Launches Cleanliness Drive
On the first anniversary of the Swachh Bharat Mission, the New Delhi Municipal Council (NDMC) today launched a cleanliness drive in Connaught Place, the heart of the national capital, and various parks under the civic body's jurisdiction.
The drive was inaugurated by Urban Development Ministry secretary Madhusudhan Prasad, who painted the pillars in the inner circle of Connaught Place.
"The NDMC has been selected by MoUD as one of the 100 smart cities to participate in the Smart City Challenge Stage-2. The government is ready to provide funds and technical assistance but cleanliness is very important to convert the area into smart city," he told reporters.
NDMC Chairman Naresh Kumar said the civic body had carried out several initiatives to maintain cleanliness in its areas throughout the year.
"We have tried to ensure that Swachh does not be just a symbolic drive but things improve on the ground.
We have also procured infrastructure to maintain cleanliness in all the areas. We are vying for the smart city tag and work is being carried out in a phased manner," he said.
A fortnight special cleanliness campaign was also launched by NDMC today in association with Resident Welfare Associations (RWAs)and Market/Traders Associations for cleaning streets, lanes, bylanes, markets and parks.
Railways to Continue 'Swachh Bharat' Mission Till March 2016
Indian Railways will continue the 'Swachh Bharat' mission till March 2016, when 'Sardar Patel United Clean India Drive' would be implemented, with focus on cleanliness at stations, hospitals and office premises, a senior official said in Madurai today.
The focus would be on stations from October 11 to 31, followed by railway colonies from December 16 to 31 and Railway Hospitals from February 15 to 28. Later systematic efforts would be taken to achieve sustained cleanliness and improvement in the environment, Divisional Railway Manager Sunil Kumar Garg said, quoting Railway board chairman's communique.
Speaking to reporters here today, he said a larger section of staff and public would be involved in the cleanliness drive and uncovered areas also would be taken up in a phased manner.
He also said the Safety Commissioner was expected to inspect the Pollachi-Palghat Broad Gauge conversion work on October 5 and 6. If clearance was received, trains bound for Gujarat, Maharashtra and Mangalore could be operated through this section.
This would reduce the distance between Madurai and Mangalore and other states, including Maharashtra and Gujarat, considerably by about 100 to 150 km, he said.
Tamil Nadu Governor, Chief MinisterJayaLalitha Lead State in Paying Tributes to Mahatma Gandhi
Tamil Nadu Governor K Rosaiah, Chief Minister Jayalalithaa and her cabinet colleagues led the state in paying tributes to Mahatma Gandhi on his 146th birth anniversary.
The Governor paid floral tributes to the portrait of Gandhi at Marina on Kamaraj Salai in Chennai.
Chief Minister Jayalalithaa and her cabinet colleagues also paid tributes to Gandhi.
The state government organised a cycle rally in Chennai to create awareness against untouchability on the occasion.
Congress' state unit scheduled a pamphlet distribution programme to press for implementing prohibition in the state, coinciding with the freedom fighter's birth anniversary, while BJP's state President Tamizhisai Sounderrajan paid floral tributes to Gandhi's portrait.
Delhi to Construct 350 New Toilets
The Delhi government will construct 350 new toilets in the national capital, Delhi Chief Minister Arvind Kejriwal said today.
"AAP government will inaugurate 350 new toilets in 10 new toilet blocks," Mr Kejriwal said while inaugurating a toilet block in Majnu Ka Tila area.
"In the last six months, 750 toilet seats have been added. By March 31 next year, we will be able to provide sufficient toilets and clean water in all slums," he said.
Taking a jibe at Prime Minister Narendra Modi's "Swachh Bharat Abhiyan" project, Mr Kejriwal said, "Singing songs won't help, nor photo opportunity of cleaning street once a year will help."
Even after one year of the ambitious plan, the country is filled with filth and it raises questions about the money spent on the scheme, he said.
"The effect of Swachh Bharat Mission cannot be seen in any street of the country. The Union government should work more rather than talking about schemes," the Chief Minister said.
Biggest Challenge for India For a Creating Jobs of Skilled Manpower
India is among the few countries with a favourable structural growth story, but its biggest challenge will be to create enough skilled manpower and jobs that will spur a "virtuous cycle" of higher growth, says a Macquarie report.
According to the global financial services firm, India will add around 100 million people to its working-age population between now and 2025 and will account for 20 per cent of the world's working-age population.
During this time, North America will see an addition of 14 million, while for China it would be a decline of 29 million.
The three pillars of education, productivity and employment are critical to reap the benefits of demographic dividend in India, it added.
"The Indian government has embarked on the right path with initiatives like Skill India, Ease of Doing Business, Smart Cities and Industrial Corridors to facilitate demographic dividends to flow through," Macquarie said.
According to the report, only 7 per cent of India's population has vocational education, as compared to 70 per cent for North America. Moreover, lack of female participation has skewed the dependents per employed person to 1.7, almost double of China.
The report further said that India's growth story is largely a story of strong domestic demand.
"Over the next decade, we estimate total discretionary spend of Indian households will increase from $174 billion in 2005 to $340 billion in 2015 and further to $504 billion in 2025," Macquarie said.
This increase in discretionary spend over the next decade will be largely driven by the middle-class and rich households.
According to Macquarie, urbanisation will rise sharply over the coming years as workers move from farms to non-farm employment sectors, mainly manufacturing and services.
The urban population will increase from 418 million in 2015 to 509 million by 2025 - to match 36 per cent of India's total population.
India Commits to Big Emissions Intensity Cuts by 2030
India has promised to cut emissions intensity by 33-35 percent by 2030, in a climate-change policy statement (Associated Press photo)
India will cut intensity of carbon emissions by 33-35 percent by 2030 from 2005 levels and make its economy more energy efficient, the government today said as it announced an ambitious climate-change policy ahead of a major UN summit in Paris later this year.
"Goal is to reduce emissions intensity of GDP by 33%-35% from 2005 level, by 2030," Environment Minister Prakash Javadekar said a day after the government submitted a new plan to the UN for combating climate change. "It is a huge jump for India, therefore it is a very ambitious target," Mr Javadekar said, adding that the government was "confident" of meeting those targets.
India, the world's third-largest emitter of greenhouse gases, made the pledge to cut emissions intensity - the ratio of a country's carbon emissions to its economic output - as part of its Intended Nationally Determined Contributions or INDCs, in a document published on a UN website early on Friday.
In the 38-page document, India said that it would target 40 per cent cumulative installed power capacity from non-fossil fuel sources by 2030.
New Delhi has ruled out committing to absolute cuts in carbon emissions, in contrast to the United States, China and other big nations which have announced peak years for emissions.
"The developed world has polluted the Earth and we are suffering. Still, we want to become part of the solution and give results," Mr Javadekar said.
The government estimated at least $2.5 trillion would be required to achieve the country's climate change goals, which include increasing forest cover, between now and 2030.
Prime Minister Narendra Modi met US President Barack Obama and France and Britain's leaders last month, and called for a climate change agenda that helps developing countries with access to finance and technology.
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