India becomes first Asian country to participate as 'Guest of Honour' in the Book Fair #AsianCountry #Sukumarbalakrishnan

Shri Sanjay Dhotre, Union Minister of State (MoS) for Human Resource Development (HRD) inaugurated the India Pavilion at the International Book Fair at Guadaljara, Mexico. India is the 'Guest of Honour Country' in this book fair, and it is the first Asian country to have received this honour.

This fair, which is called Feria Internacional del Libro de Guadaljara in Spanish, is the biggest book fair in the Spanish-speaking world. Shri Sanjay Dhotre delivered the inaugural address at the book fair during its opening yesterday. The National Book Trust (NBT), an autonomous body under the Ministry of Human Resource Development (MHRD) Government of India (GoI), is participating as the nodal agency of the GoI in this book fair.

Shri Dhotre, while speaking at the inaugural ceremony, highlighted the deep literary connection between India and Mexico and referred to the legendry Mexican poet Nobel Laureate Octavio Paz's first visit to India in 1952. He said, "Paz took deep interest in the culture and heritage of India, and he wrote poems on Vrindavan, Shiva-Parvati, and on Amir Khusro. Shri Dhotre also said that India and Mexico are in opposite directions on the world map and are thousands of miles away from each other, but both the countries have great similarities in terms of their people, biodiversity, family and cultural values, and even climatic conditions. He added that both the countries represent very old civilisations, and both have undertaken a sustained struggle to get independence from the colonial rule.

Referring to the 150th anniversary celebration of the birth of the Father of Nation Mahatma Gandhi, Shri Dhotre said that Mahatma Gandhi's philosophy 'Let Our Lives Be Open Books' is the theme of the India pavilion in the fair, as it represents, among other things, an atmosphere of interaction and communication provided by the platforms such as book fairs.

Shri Dhotre expressed hope that this book fair will provide platform for an accelerated literary, academic and cultural exchange between the two countries, and great literary pieces of both the countries will be translated into Indian languages and Spanish. He also invited all the publishers having gathered from across the world to the World Book Fair being organised by NBT in New Delhi, during January 2020.

This is the 33rd edition of Guadaljara International Book Fair will continue till 8 December 2019.

India reaches electricity generation capacity of 365 GW: Power Minister #ElectricityGenerationCapacity #Sukumarbalakrishnan

The installed power generation capacity in India reached 364.9 gigawatts, that is adequate to meet the country's electric demand.
Furthermore, the peak alongside with the energy requirement deficit was less than one per cent during the first seven months of 2019-20, Minister of States for Power and New and Renewable Energy Mr. R K Singh said.

"As on 31.10.2019, the installed generation capacity in the country is around 3,64,960 megawatt (MW), which is sufficient to meet the electricity demand in the country. It may be seen that the gap between demand and supply of power during the current year 2019-20 (up to October 2019) both in terms of energy and peak is less than 1 per cent," he added.

The gap is mainly because of reasons other than the shortage of power availability in the country such as restraints in sub-transmission and distribution network, financial constraints of state power utilities to purchase power, Mr. Singh said.

He added that if there is any shortage in meeting power requirement, distribution companies can also purchase power from power exchanges on a daily basis.

"The government is supporting the states/UTs in augmenting and strengthening the intra-state transmission and distribution network through various schemes including Deen Dayal Upadhyaya Gram Jyoti Yojana and Integrated Power Development Scheme," the minister said.

The coal stock in power plants as on November 21 stood at 23.1 million tonnes (MT) for 14 days as against 12.1 MT for 7 days on the same day last year, the minister said.

Roadmap developed for increasing Indian port capacity to 3300+ MTPA by 2025: Shri Mansukh Mandaviya #Sukumarbalakrishnan

In a written reply to a question in Lok Sabha today the Minister of State for Shipping (I/C) and Chemical & Fertilizers Shri Mansukh Mandaviya informed that an analysis of nation-wide end-to-end logistics flows of all key commodities (~85 per cent of all commodities) at ports was carried out based on which the National Perspective Plan (NPP) for the Sagarmala Programme was prepared in April 2016.

The Minister informed that as a part of the NPP, a roadmap is developed for increasing Indian port capacity to 3300+ MTPA by 2025. Master Planning of 12 Major Ports has been carried out and 95 capacity expansion and port modernizations projects have been identified. Major ports capacity has been re-rated with respect to global benchmarks as per berthing policy 2016 and effective capacity has increased by 293 MTPA after re-rating. Global benchmarks have been adopted to improve the efficiency and productivity for major ports and 116 initiatives have been identified to unlock 100 MTPA of capacity at major ports

He Further said, an Action Plan for Coastal Shipping has been prepared by the Asian Development Bank (ADB) in September 2019. This action plan includes recommendations with respect to infrastructure creation required to increase the use of coastal shipping in India.

Ministry of Sipping has approved 67 projects (cost: Rs 5702 crore [US$ 815 million]) under Sagarmala Programme for financial assistance of Rs 1,491 crore [US$ 213.34 million] for improving port infrastructure and port connectivity.

ONGC raises US$ 300 million under ECB route #ONGC #Sukumarbalakrishnan

Oil and Natural Gas Corporation (ONGC) has raised US$ 300 million under the External Commercial Borrowing route for meeting its capital expenditure needs.

"The bonds will bear a coupon of 3.375 per cent and will mature in 2029. This is the tightest coupon for 10 year or longer tenor offering from India ever achieved by any Indian Corporate," an ONGC statement said.

"The mix of investors is diverse, from across Singapore, HK, London, Taiwan, Japan and Middle East which includes 77 per cent bid from Asian investors and 23 per cent from EMEA investors. The Bankers to the deal were - Citi, DBS Bank Ltd, MUFG, SBICAP and Standard Chartered," the statement added.

ONGC Chairman Mr. Shashi Shanker said that the company finances its operations from internal accruals, and it has capacity to do the same in future too. But the offering of US$ bond was important to set a benchmark for ONGC group. It is anticipated that once the benchmark is set, it will facilitate group entities to raise funds at a competitive price, the statement said.

JSW Cement to invest Rs 2,875 crore to add 11 mtpa capacity #JSW #Sukumarbalakrishnan

JSW Cement intend to invest Rs 2,875 crore (US$ 411.36 million) to increase the capacity to 25 million tonnes per annum from 14 mtpa by 2023.
The company previously set the target to reach production capacity of 20 mtpa by 2020 with an investment of Rs 2,000 crore (US$ 286.1 million) and list the company on the stock exchange with an initial public offer.

Though, due to liquidity limits and unfavourable market conditions the company has deferred both the expansion and initial public offer plan to 2021.

It will invest Rs 800 crore (US$ 114.47 million) over next four years in Siva Cement, which is a listed entity, to set up 1 mtpa clinker and 1 mtpa grinding unit.

Mr. Parth Jindal, Managing Director, JSW Cement, said that when the expansion projects of the company will be completed, it will enter the position among the top five cement companies.

The demand for cement has already picked up in the last two months and should gather pace by early next year, he said.

JSW Cement plans to raise an amount of Rs 4,000 crore (US$ 572.3 million) through an IPO to fund its next phase of expansion to set up fresh capacity of 10 mtpa after the set expansion is completed, Jindal said.

The company, in southern India intend to add 3.6 mtpa capacity to take its total cement capacity to 11.6 mtpa. The expansion at its unit in Toranagallu, Karnataka comprises of debottlenecking and installation of a new grinding unit to take its capacity to 6 mtpa from 3.2 mtpa. The company also plans to put up a new grinding unit of 0.8 mtpa capacity at Salem in Tamil Nadu.

The company plans to add 2.4 mtpa in West and make its total cement capacity to 4.6 tpa, by debottlenecking and setting up a new grinding unit whereas in the East, it will add the largest chunk of production capacities of over 5 mtpa, bringing its total capacity to 9 mtpa. The capacity will be ramped up at the manufacturing unit at Salboni, West Bengal where the company will add 2.4 mtpa, another 1.80 mtpa at Jajpur in Odisha apart from 1 mtpa at Shiva Cement in Odisha.

Coal production in India up by 164.58 MT in 5 years #CoalProduction #Sukumarbalakrishnan

According to Minister of Coal and Parliamentary Affairs, Mr. Prahlad Joshi, the production of raw coal in the country has increased from 567.77 million tons (MT) in 2013-14 to 730.35 MT in 2018-19. Last year, India had to import 234 MT coal for which it lost Rs 1.7 lakh crore (US$ 24.32 billion) foreign exchange.

"All India raw coal production increased from 565.77 MT in 2013-14 to 730.35 MT in 2018-19, an absolute increase of 164.58 MT as compared to increase of coal production of 73.01 MT between 2008-09 and 2013-14," he said.

He added that the production witnessed a positive growth in the first quarter of the current year (April- June 2019) but there has been decrease in production since July. One of the main reasons is heavy rainfall witnessed in coal mining areas of the country, he said.

Mr. Joshi said that the growth of production in October was hindered as rainfall continued in the month this year that normally witness growth after the rainy session. He added that during the current year (April-October 2019), though there has been a decrease in dispatch to power sector, it has not affected the coal availability position at the powerhouse end.

Currently, stock at Powerhouse end stands at 22.78 MT as on November 19, 2019, that is equal to 14 days' consumption with 5 power plants under critical list, as against last year same day's stock of 11.68 Million tonnes, equivalent to 7 days' consumption, with 25 power plants reeling under criticality.

"The coal production of CIL and its subsidiaries is being reviewed regularly at the highest level of Ministry. The CIL has been asked to make all out efforts to reach the target by improving production in the remaining months of the current year," he said.

Mr. Joshi said the focus of the government is on increasing the domestic production of coal by allocating more coal blocks, pursuing with state government for assistance in land acquisition and coordinated efforts with Railways for movement of coal.

Highways ministry lines up projects worth Rs 50,000 crore to be awarded in next 3 months #Sukumarbalakrishnan

According to minister of roads and highways, Mr. Nitin Gadkari, the highways ministry will award road projects with a total length of around 4,500 km worth Rs 50,000 crore (US$ 7.15 billion).

In September, he asked his department to locate the road projects to boost the economic activity in the country.

Mr. Gadkari said in a written response in the Parliament, "Award of road projects covering a length of 4,471 km with an approximate cost of Rs 50,000 crore (US$ 7.15 billion) has been targeted during the next three months."

The highways ministry was planning to award road construction projects worth over Rs 50,000 crore (US$ 7.15 billion) over the next three months to boost demand in the construction and automobile sector, Mr. Gadkari said.

The ministry has awarded 168 road projects covering a length of 3,215 km, since April 2019, he added.

In 2018-19, National Highway Projects of an aggregated length of 5,493 km were awarded.

The reason for weak participation of private sector in road projects were the capacity constraints on the part of developers, lack of availability of debt products, Mr. Gadkari said.

"Major highway developers had capacity constraints including over-leveraged financials due to excessive exposure of infrastructure projects including highways," Mr. Gadkari said.

The overall share of private investment in total road construction during the last five years is about Rs 98,100 crore, Mr. Gadkari said.

ICAI sign MoU with Kuwait auditors and accountant's association #Sukumarbalakrishnan

The Institute of Chartered Accountants of India (ICAI) has signed a Memorandum of Understanding (MoU) with the Kuwait Accountants and Auditors Association (KAAA), as per the release issued by the institute.

The ICAI will provide technical training programs to the employees of the Kuwat government, Kuwait nationals and members of the KAAA in partnership with the KAAA under the MoU.

Mr. Prafulla Chhajed, President of the ICAI said, "India and Kuwait share a cordial relationship, strengthened and nurtured with historical trade links, cultural affinities and presence of large number of Indian nationals in Kuwait" adding that when the MoU was signed, there was need to promote Kuwait-India business partnership.

Mr. Faisal Abdulmohsen Al-Tabikh, Chair, KAAA said that the MoU would help in building strong relationship between the two organisations and aid in establishing areas of cooperation for the benefit of both organisations as well as boost their reputation and global influence.

"ICAI is taking all possible efforts to enter into mutual recognition agreements with maximum foreign accounting Institutes, which is the first step for promotion of export of accountancy services in the overseas market," said a release by the ICAI. The union cabinet approved the MoU between the ICAI and the KAAA on October 23, 2019.

The export of financial services is considered as one of the 12 champion sectors for export promotion by the government.

Cabinet approves big increase in the authorized capital of Food Corporation of India from Rs 3,500 crore to Rs 10,000 crore #CapitalFoodCorporation #Sukumarbalakrishnan

The Cabinet Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi has approved to increase the authorized capital of Food Corporation of India (FCI) from existing Rs 3,500 crore (US$ 500.79 million) to Rs 10,000 crore (US$ 1.43 billion).

With the increase of authorized capital, additional equity capital can be infused in FCI through Union Budget, to fund the foodgrains stock, perpetually held by FCI. This will reduce the borrowings of FCI, save interest cost of FCI and reduce food subsidy in consequence.

Background:

The operations of Food Corporation of India require maintaining perpetual stock of food grains which needs to be funded by the Govt. of India through equity or long-term loan. The Govt. of India is providing equity to FCI for maintaining stocks. The present authorized equity capital of FCI is Rs 3,500 crore (US$ 500.79 million) and paid up equity capital as on 31.03.2019 is Rs 3,447.58 crore (US$ 493.29 million).

Food Corporation of India was constituted under the Food Corporations Act, 1964, to implement the food policy of Government of India. Its primary objective is to ensure Minimum Support Price to farmers, maintain buffer stock of food grains and distribution of food grains under National Food Security Act and other welfare schemes of Govt. of India.

EESL and SDMC Comes Together to Enhance the EV Infrastructure in Delhi to Install Around 75 Charging Stations in SDMC Area #EESL #SDMC #Sukumarbalakrishnan

Energy Efficiency Services Limited (EESL), a joint venture under Ministry of Power, Government of India has signed a Memorandum of Understanding (MoU) with South Delhi Municipal Corporation (SDMC), a civic body under Municipal Corporation of Delhi, to establish infrastructure for Electric Vehicles (EV) in SDMC area over a 10-year period.

Under the terms outlined in the Memorandum of Understanding, SDMC and EESL shall jointly work to fast-track the adoption of e-mobility in Delhi by installing around 75 public charging stations in South Delhi Municipal Corporation Area.

Managing Director, EESL Shri Saurabh Kumar and Municipal Commissioner, SDMC Shri Gyanesh Bharti, signed the MoU in the august presence of Union Minister of Power Shri R. K. Singh and Lt. Governor, Government of NCT of Delhi Shri Anil Baijal.

Speaking at the ceremony, Minister of Power and New & Renewable Energy, Shri R.K Singh said this initiative is part of Government's vision to reduce carbon footprints. We will grow, but responsibly, he added elaborating efforts to achieve the target of 175 GW renewable energy capacity by 2022 and having 40 percent as RE capacity in total installed energy capacity by 2030. The Minister also said that government has taken a number of steps to promote environment friendly electric vehicles including revision in Electric Vehicle Charging Policy. Urging to promote use of electric vehicles, he said all of us should take it forward.

Speaking on the occasion, Lt. Governor, Government of NCT of Delhi Shri Anil Baijal said that this is good beginning. He also assured all helps in resolving any issue that may arise in due course.

The Government of India has embarked upon a very ambitious e-mobility plan, one in which the government plays a pivotal role in enabling e-mobility. Installation of public charging stations (PCS) would help in taking considerable strides in the creation of a sustainable EV ecosystem in the states across India. It's a great stride by SDMC and EESL to come together for harnessing synergies and opportunities in this broader effort.

The procurement of charging units, procurement of related infrastructure shall be borne by EESL along with the operation & maintenance of public charging infrastructure by qualified manpower, whereas, SDMC would be responsible for provision of space for setting up charging infrastructure in its area.

In the first phase, EV charging station will be installed in 18 locations within 6 months from the effective date, selected through joint survey by both parties. The total number of finalized locations as per the location assessment will be 75 which may increase/decrease and include multi-level parking locations in Delhi as well.

Installation of public charging stations would help these legislative efforts in creating a sustainable EV ecosystem in the states. With installation of public charging stations, the range anxiety among residents is expected to reduce, which would help in increasing the adoption of EVs in the city. This would help meet the state level targets of increasing EV adoption. With increasing penetration of EVs, the local emission of pollutants is also expected to reduce, leading to cleaner air providing several health benefits to the public.

For charging e-cars, till date, 300 AC & 170 DC captive chargers have been commissioned. Apart from this, 65 public charging stations have also been installed in NDMC area. EESL has signed agreements with various PSUs, Government departments, State Governments of Andhra Pradesh, Maharashtra and Telangana.

With the bulk procurement, EESL receives electric vehicles and electric chargers at a significantly discounted rate vis-à-vis the actual market value. Further, with access to low cost funds, the overall cost of project becomes competitive. With this, EESL has established a sustainable business model which is affordable for end consumers.