Tuesday, December 18, 2018

Parliament proceedings live | Lok Sabha adjourned after Sumitra Mahajan's attempts to bring order fail

Parliament proceedings live | Lok Sabha adjourned after Sumitra Mahajan's attempts to bring order fail
Parliament proceedings live | Lok Sabha adjourned after Sumitra Mahajan's attempts to bring order fail
The BJP members have been demanding an apology from Rahul Gandhi after the Supreme Court denying a probe into the Rafale deal. The AIADMK members are protesting against the proposed dam at Mekadatu in Karnataka.

Source: TH

Sri Lanka Parliament to convene on Tuesday for first time after PM Ranil Wickremesinghe#39;s reinstatement

Sri Lanka Parliament to convene on Tuesday for first time after PM Ranil Wickremesinghe#39;s reinstatement
Sri Lanka Parliament to convene on Tuesday for first time after PM Ranil Wickremesinghe#39;s reinstatement
Sri Lanka Parliament to convene on Tuesday for first time after PM Ranil Wickremesinghe#39;s reinstatement Sirisena, whose controversial actions plunged the island nation into an unprecedented political turmoil for nearly two months, reinstated Wickremesinghe as Prime Minister on Sunday, after sacking him on October 26 and appointing ex-president Mahinda Rajapaksa in his place and also dissolving Parliament, some 20 months early.

Source: MC

Won#39;t let PM sleep until all farms loans waived: Rahul Gandhi

Won#39;t let PM sleep until all farms loans waived: Rahul Gandhi
Won#39;t let PM sleep until all farms loans waived: Rahul Gandhi
Won#39;t let PM sleep until all farms loans waived: Rahul Gandhi In a stinging attack on what he described as crony capitalism, Gandhi said the government has turned a blind eye to the loans given to 15 top industrialists of the country, including Anil Ambani, but has made no effort to alleviate the woes of the farmers in the last four years.

Source: MC

Nobody thought Congress leaders will get convicted: PM Narendra Modi on riots

Nobody thought Congress leaders will get convicted: PM Narendra Modi on riots
Nobody thought Congress leaders will get convicted: PM Narendra Modi on riots
Nobody thought Congress leaders will get convicted: PM Narendra Modi on riots "Four years ago, nobody ever thought of Congress leaders getting convicted in the 1984 Sikh massacre and that people (victims) would get justice," the PM said.

Source: MC

Govt did not ask for Urjit Patel#39;s resignation as RBI Guv

Govt did not ask for Urjit Patel#39;s resignation as RBI Guv
Govt did not ask for Urjit Patel#39;s resignation as RBI Guv
Govt did not ask for Urjit Patel#39;s resignation as RBI Guv Responding to criticism over surprise resignation of Patel as RBI Governor earlier this month, he said there were cordial discussions at the meeting of the RBI board over issues such as the appropriate size of reserves the central bank must hold.

Source: MC

Huawei says it has secured over 25 commercial 5G contracts: China

Huawei says it has secured over 25 commercial 5G contracts: China
Huawei says it has secured over 25 commercial 5G contracts: China
Huawei says it has secured over 25 commercial 5G contracts: China Rotating chairman Ken Hu, speaking at a press conference at the company#39;s headquarters in Shenzhen, also said Huawei expects revenue to exceed $100 billion this year.

Source: MC

D-Street Buzz: PSU banks gain led by Union Bank, PNB; Zee Entertainment falls 5%

D-Street Buzz: PSU banks gain led by Union Bank, PNB; Zee Entertainment falls 5%
D-Street Buzz: PSU banks gain led by Union Bank, PNB; Zee Entertainment falls 5%
D-Street Buzz: PSU banks gain led by Union Bank, PNB; Zee Entertainment falls 5% The breadth of the market favoured the declines with 805 stocks advancing and 841 declining while 412 remained unchanged. On the BSE, 1161 stocks advanced, 1120 declined and 150 remained unchanged.

Source: MC

Paddy procurement in Chhattisgarh to resume in full swing buoyed by MSP hike

Paddy procurement in Chhattisgarh to resume in full swing buoyed by MSP hike
Paddy procurement in Chhattisgarh to resume in full swing buoyed by MSP hike
Paddy procurement in Chhattisgarh to resume in full swing buoyed by MSP hike The state is expected to even surpass the procurement target of 55 lakh tonnes of rice set for this year as farmers from the neighbouring states Telangana, Andhra Pradesh and Odisha are keen to sell their produce in Chhattisgarh taking advantage of the higher support price, the official added.

Source: MC

Trade with a positive bias - e paper - english news paper today - news headlines today

Trade with a positive bias - e paper - english news paper today - news headlines today
Trade with a positive bias

The Nifty and the Sensex posted gains in Monday’s session. As the uncertainty surrounding the state polls ended and there are no near-term headwinds. 

On the sectoral front, barring the Nifty Realty (-0.2 per cent), all the indices managed to post gains. The Nifty Metal (+2.0 per cent) and the Nifty Media (+1.3 per cent) gained the most. The Tata Motors (+4.2 per cent) and Power grid corporation (+3.7 per cent) were the major gainers whereas Kotak Mahindra Bank (-2.7 per cent) and Infosys (-1.7 per cent) were the losers among the Nifty50 stocks.

The Nifty Midcap (0.5 per cent) and smallcap (0.3 per cent) were up.

Market view

Sneha Seth derivatives Analyst at Angel Broking said that the benchmark index started-off the week on a very strong note; above the immediate hurdle of 10,840. Post some range bound move, momentum picked up in the latter half to bring index near 10,900 mark. In F&O segment, we saw addition of some fresh long positions in the Nifty as well as BankNifty.  

In Nifty, we continued seeing fresh writing in index ATM puts along with unwinding in OTM call options. 10,800 and 10,900 put options added good amount of shorts; whereas, good amount of unwinding took place in 11,000 call options. The volatility index also plun-ged to 13-weeks low (14.54 per cent), which is a good indication. Considering the overall F&O data, we expect continuation of this rally towards 11,000-11,100; hence, traders should trade with a positive bias going ahead.

Technical view

Jay Thakkar, CMT head technical and derivatives research - AVP Equity Research, Anand Rathi Shares and Stock Brokers said, “The Nifty closed well in the positive territory and it has confirmed higher tops and higher bottoms on the hourly charts which indicate that the bulls are in command. The momentum indicator MACD is well in buy mode. The minimum target on the upside is pegged at 10,980 whereas support is pegged at 10,820 levels.

The Sensex too closed in the positive territory. The broader markets have shown good positive buy crossover which indicates that the major negatives in the markets have been priced in and the Index seems to be forming higher tops and bottoms. The support on the lower side is pegged at 36,050 and below those 35,780 levels whereas resistance on the upside is pegged at 36,550 levels and above those it can climb till 36,720.

—Ashwin Punnen

Trade with a positive bias

Source: EP

HZL receives three sustainability awards - e paper - english news paper today - news headlines today

HZL receives three sustainability awards - e paper - english news paper today - news headlines today
HZL receives three sustainability awards
City: 

Vedanta Group company Hindustan Zinc (HZL) has received three sustainability awards at a recent CII ceremony. A release from the mining company said it has got the CII-ITC Sustainability Awards 2018 for “Corporate Excellence–Outstanding Accomplishment”, “Commendation for Significant Achievement in CSR” and “Excellence in Environment Management”.

The awards were given away by Amitabh Kant, CEO, Niti Aayog.

Sunil Duggal, CEO, HZL, said, “We are honoured to have been bestowed with three awards at this prestigious event…Awards and the site visits have helped Hindustan Zinc to understand different aspects of sustainability, and improve year-on-year.”

The CII-ITC Sustainability Award recognises companies that have demonstrated outstanding policy, practice and results by successfully incorporating sustainability in their core business.

HZL receives three sustainability awards

Source: EP

Cap on MF charges to kick in from April - e paper - english news paper today - news headlines today

Cap on MF charges to kick in from April - e paper - english news paper today - news headlines today
Cap on MF charges to kick in from April
City: 

In an overhaul of the fee structure that mutual funds (MFs) charge from investors, the markets regulator has capped total expenses for MF schemes with effect from April 1, 2019.

Rationalising the total expense ratio (TER), the fee that MFs collect from investors every year to manage their money, the Securities and Exchange Board of India (Sebi) has set 2.25 per cent as the upper ceiling for such charges.

The Sebi board had cleared a proposal in this regard in September.

The regulator has capped the maximum TER for closed-ended equity schemes at 1.25 per cent, and other equity schemes at 1 per cent. The maximum TER for open-ended equity schemes will be 2.25 per cent, and 2 per cent for other open-ended schem-es, Sebi said in a notification dated December 13.

TER is a percentage of a scheme's corpus that a MF house charges towards expenses, including administrative and management.

The TER was introduced in 1996 and since then, it has not been changed. Over a period, there have been varying practices in the industry with respect to charging of payments and commissions.

With regard to open-ended equity schemes, Sebi said that the highest expense ratio allowed to be charged for the first Rs 500 crore of assets will be 2.25 per cent. As the AUM increases, the expense ratio will have to come down.

For the next Rs 250 crore, it will be 2 per cent; for further Rs 1,250 crore, it will be 1.75 per cent; for the next Rs 3,000 crore, the fee will be 1.6 per cent; and again on the next Rs 5,000 crore of the daily net assets, the charge will be 1.5 per cent.

In the case of equity mutual funds with daily net assets of Rs 40,000 crore, the total expense ratio will be a decline of 0.05 per cent for every increase of Rs 5,000 crore of daily net assets.

Cap on MF charges to kick in from April

Source: EP

Move to seed Aadhar with phones, bank accounts gets cabinet nod - e paper - english news paper today - news headlines today

Move to seed Aadhar with phones, bank accounts gets cabinet nod - e paper - english news paper today - news headlines today
Move to seed Aadhar with phones, bank accounts gets cabinet nod
City: 

The Cabinet on Monday approved amending the existing laws to provide legal backing for seeding of biometric ID Aadhaar with mobile numbers and bank accounts as an optional KYC after the Supreme Court barred mandatory use of 12-digit unique identifier by private firms, sources said.

The Cabinet headed by prime minister Narendra Modi approved amendments to the Telegraph Act and the Prevention of Money Laundering Act (PMLA) after the Supreme Court in September imposed restrictions on the use of Aadhaar by private companies.

“Private entities using Aadhaar as a KYC document will have to ensure safety and privacy of the Aadhaar data,” a source said. Sources said the two Acts will be amended to provide for voluntary sharing of the 12-digit identification number for obtaining new mobile phone connections and for the opening of bank accounts.

The changes in the relevant sections of the Telegraph Act and PMLA will be effected through the original Aadhaar Act. A bill in this regard could be moved in the ongoing Winter Session of Parliament and would clarify that the changes in the two Acts are being made through the principal Aadhaar law. Under the amendments, an Aadhaar holder can opt for offline verification through QR code and will not require to share actual Aadhaar number.           

The SC had struck down Section 57 of the Aadhaar Act that made seeding of the biometric ID with SIMs and bank accounts mandatory, saying it had no legal backing. To overcome this lacuna, the Telegraph Act is being amended to provide legal backing for the issuance of mobile SIMs through Aadhaar.

Similarly, the amendment to the PMLA will give individuals option to link their bank accounts to Aadhaar in the KYC option.

Under the amendments, the government has proposed an imprisonment of up to 10 years for attempting to hack Aadhaar data. Currently, the punishment for this offence is 3 years. Sources further said a child who has been enrolled for Aadhaar through his/her parents will have an option to opt out of Aadhaar data base after attaining age of 18 years.

Move to seed Aadhar with phones, bank accounts gets cabinet nod

Source: EP

NHAI may fall short of FY19 target by 37% - e paper - english news paper today - news headlines today

NHAI may fall short of FY19 target by 37% - e paper - english news paper today - news headlines today
NHAI may fall short of FY19 target by 37%
City: 

Despite the pace of highways projects undertaken by state-run National Highways Authority of India (NHAI) picking up in the last three years, it is likely to remain short by 33-37 per cent of its FY19 target of completing 6,000 km, says Icra.

With a strong unexecuted pipeline and concerted efforts on right of way, the NHAI is on a strong footing and is set to witness sustained growth in execution in FY2019, the highest ever over the last one decade (FY2010- FY2019), the agency said in a statement issued on Monday.

As on March 31, 2018, NHAI has around 15,000 km of portion, which included projects awarded over the last five years, under completion.

“The majority of the NHAI awarded projects in the past three years are on track as far as completion deadline is concerned and have not encountered any land acquisition challenges. The execution has also increased at a CAGR of 27 per cent to 3017 km in FY2018 from 1500 km in FY2015,” it said.

NHAI’s actual execution during H1 FY2019 is estimated to be in the range of 1,300-1,400 km and considering that execution is typically lower in first half of the fiscal due to monsoon, Icra estimates full year execution to be in the range of 3,800-4,000 km, though the same will remain short by 33-37 per cent of its FY19 target of completing 6,000 km.

However, pending appointed date (AD) for the hybrid annuity model (HAM) projects should not be seen as a concern when financial closure has already been achieved, the report said.

“For some of the projects, there was a delay in announcing the appointed date, despite achieving financial closure due to the lack of possession of 80 per cent of the right of way. However, in most of these projects, the land acquisition has reached the advanced stage.”

“As compensation is paid out, the developers are fully geared up with all the pre-construction activity including resource mobilisation and surveys. Once the AD gets declared we would see substantial progress on the work front for these projects.” Icra vice-president and Group head, corporate ratings Shubham Jain said.

Icra further noted that the other reasons for slippage on the awards front, particularly when the awards itself are low, they were only 892 km in Q1 FY2019 as against the target of 20,000 km for the ministry of road and highways.

“The awards activity usually picks up substantially during the fourth quarter. Though, given the general elections in 2019, new award activity is likely to get affected in Q4FY2019 and Q1FY2020,” it said.

NHAI may fall short of FY19 target by 37%

Source: EP

Foreign flows to remain muted in 2019: Credit Suisse - e paper - english news paper today - news headlines today

Foreign flows to remain muted in 2019: Credit Suisse - e paper - english news paper today - news headlines today
Foreign flows to remain muted in 2019: Credit Suisse
City: 
Net foreign inflows have remained weak for three years and FPI trading has fallen to 30% from 50%

Swiss multinational investment bank Credit Suisse doesn't see foreign inflows into equity rising in 2019 owing to the global context of slower growth, high rates, less liquidity and more volatility.

On the Indian economy, Credit Suisse said the economic momentum is slowing down currently, dragged down by weak consumption as demand is dissipating, with the Pay Commission effect waning.

Credit Suisse, in its outlook for Indian market in 2019, said, “The FPI flows are coming off from around $20 billion a year earlier, this year there is absolutely no foreign portfolio investors (FPI) buying. Net foreign inflows have remained weak for the last three years and FPI trading has fallen from 50 per cent to 30 per cent in the last three years,” Neelkanth Mishra, managing director and India equity strategist, Credit Suisse, said.

NSDL data shows foreign portfolio investors were net sellers of equities worth Rs 33,194 crore so far this year and FPIs have sold debt papers worth Rs 50,797 crore.

From a global market perspective, 2019 may see a lot of volatility, but the Indian market may not be as volatile as the world market despite foreign flows coming down, as domestic flows are acting as a calming force, Mishra said, adding, “I don’t see it coming off in the near future.”

“Global growth is slowing, risk is they keep getting cut, after two years of growth forecasts getting revised upwards, downwards revisions have started, monetary conditions are expected to tighten as a reversal of quantitative easing as global growth is starting to come off, with major central banks expected to hike rates in 2019,” Mishra said.

Balance sheets of the US Federal Reserve, European Central Bank, Bank of Japan and Bank of England should be down by 2.7 per cent in a year and by 6 per cent by end of 2020.

For 2019, Credit Suisse is overweight on industrials, metals, energy, private banks, utilities, IT and PSU banks and underweight on discretionary, staples and NBFCs.

On the Indian economy, Swiss investment bank said weak consumption is driving down the country’s economic momentum. “We expect growth to slowdown further in first half of 2019. Two- year CAGR of GDP growth was steady at 6.8-7.0 per cent since mid-2017, but recently dipped to 6.7 per cent dragged by consumption,” the report said.

 “There was a sudden and sharp rise in consumption due to the Pay Commission’s pay hike of government employees, with the total increase being Rs 4.5 lakh crore, or 3 per cent of GDP. This is the year (2019) Pay Commission effect will go away. Demand is dissipating, Diwali sales were down,” Mishra said.

Foreign flows to remain muted in 2019: Credit Suisse

Source: EP

Kamal Nath sworn in as 18th CM of MP - e paper - english news paper today - news headlines today

Kamal Nath sworn in as 18th CM of MP - e paper - english news paper today - news headlines today
Kamal Nath sworn in as 18th CM of MP
City: 

Congress leader Kamal Nath was on Monday sworn in as Madhya Pradesh chief minister at a ceremony attended by a galaxy of leaders. Governor Anandiben Patel administered the oath of office to 72-year-old Nath, who led the Congress to victory in the recently-concluded state assembly polls. No other minister took oath along with him.

The Congress on Thursday had named Nath, the nine-time Lok Sabha member from Chhindwara, to head the state Congress legislature party, after hours of hectic parleys held by party chief Rahul Gandhi with senior party leaders. On his arrival at the venue, Gandhi was greeted with loud cheers by the crowd. He was flanked by Nath and state Congress' campaign

committee chairman Jyotiraditya Scindia.

National Conference chief Farooq Abdullah, LJD leader Sharad Yadav, NCP chief Sharad Pawar, his party leader Praful Patel, former prime minister HD Deve Gowda, Karnataka CM HD Kumaraswamy, his Andhra Pradesh counterpart Chandrababu Naidu, TMC’s Dinesh Trivedi, DMK leader MK Stalin and RJD leader Tejashwi Yadav were among those present at the event. BSP supremo Mayawati and SP chief Akhilesh Yadav, who have extended support to the Congress to form the government in the state, were not present.

Former PM Manmohan Singh, Congress leader in the Lok Sabha Mallikarjun Kharge, Rajasthan's new CM Ashok Gehlot, his deputy Sachin Pilot, former Haryana CM Bhupendra Singh Hudda and Puducherry CM V Narayanasamy were also present. Former MP chief minister and senior Congress leader Digvijay Singh, Punjab minister Navjot Singh Sidhu and senior Congress leaders Anand Sharma, Raj Babbar and Rajiv Shukla were among those who attended the ceremony. Three former BJP chief ministers -- Shivraj Singh Chouhan, Kailash Joshi and Babulal Gaur – too were present on the stage.

Born at Kanpur to businessman father Mahendra Nath and mother Leela, Nath is an alumnus of the prestigious Doon School in Dehradun). He did his graduation from St Xavier's College, Kolkata, before taking a plunge into politics. Nath was named the Congress chief in Madhya Pradesh in April ahead of the Assembly polls. Many in the party recalled that former prime minister Indira Gandhi described him as her “third son,” who helped her take on the Morarji Desai-led regime in 1979.

Thirty-nine years later, the senior-most member in the 16th Lok Sabha donned the battle gear to help Rahul Gandhi make huge gains for the opposition in MP where Shivraj Singh Chouhan is the longest-serving CM since 2003.

Kamal Nath sworn in as 18th CM of MP

Source: EP

The energy landscape - e paper - english news paper today - news headlines today

The energy landscape - e paper - english news paper today - news headlines today
The energy landscape
The oil and gas sector is among the eight core industries in the country and plays a major role in influencing the decision making. Here is the petroleum ministry’s snapshot on the major projects, initiatives, investments and the road ahead

Energy is a key driver of economic growth and the government’s focus has been to bring about transformational chan­ges in the energy landscape. The Petroleum and Natural Gas Ministry has endeavored to “reform, perform and transform’ the sector. The government has taken several reforms and accomplished major task with far-reaching impacts in the sectors of exploration and production, refinery, marketing, natural gas and international cooperation.

Exploration & production

A number of new initiatives have been taken in the last one year to promote exploration and production activities in the country. In a major policy drive to give a boost to petroleum and hydrocarbon sector, the government has unveiled a series of policy reforms. Some of the notable policy reforms are

i.) Hydrocarbon exploration and licensing policy (HELP)/ open acreage licensing policy (OALP): This is a paradigm shift from production sharing contract (PSC) regime to revenue sharing contract (RSC) regime based on the principle of ease of doing business. It provides for single license for exploration and production of conventional as well as non-conventional hydrocarbon resources; pricing and marketing freedom; reduced rate of royalty for offshore blocks, open acreage licensing policy that means option to select the exploration blocks without waiting for formal bid round. Expression of Interest can be submitted round the year and bidding is carried out every 6 months.

Under OALP bid round I, 55 blocks having area of 59,282 sq km have been awarded on October 1, 2018. OALP bid round II with 14 blocks is in the offering.

ii) Policy framework to promote and incentivise enhanced recovery methods for oil and gas: The government has approved the policy framework to promote and encourage adoption of enhanced recovery (ER)/ improved recovery (IR)/unconventional hydrocarbon (UHC) production methods/techniques through fiscal incentives and an enabling ecosystem to improve productivity of existing fields and enhance overall production of domestic hydrocarbons. The policy provides for systemic assessment of every field for its ER potential, appraisal of appropriate ER techniques and fiscal incentives to de-risk the cost involved in ER Projects and to make it economically viable.

iii) Discovered small field policy (DSF):  For early monetisation of unmonetised discoveries of national oil companies (NoCs), Cabinet in September, 2015 approved 69 marginal fields for offer under Discovered Small Fields Policy. These contract areas are awarded under the new regime of revenue sharing model. Award of contract is expected to provide faster development of fields and facilitate production of oil and gas.

The first bidding round under the DSF policy was launched on May 25, 2016, thereby offering 67 discovered small fields in 46 contract areas of ONGC and OIL for international bidding. Total 30 contracts for 43 discovered small fields were signed with 20 companies in March, 2017. It is expected that in-place locked hydrocarbons volume of 40 MMT oil and 22.0 BCM of gas will be monetised over a period of 15 years.

On February 7, 2018, Cabinet has approved the DSF policy bid round-II, an extension of the DSF policy notified on October 14, 2015. Under DSF-II, 59 discovered small fields/unmonetised discoveries estimated to have 194.65 million metric ton (MMT) oil and oil equivalent gas in place are offered for bidding.

The second bidding round under DSF policy offering 59 discoveries clubbed into 25 new contract areas was launched  August 9, 2018.

iv) National seismic programme of un-appraised areas: The government has taken up programme of undertaking 2D seismic survey of entire un-apprised areas. National seismic programme was launched on October 12, 2016. Under the programme, government has approved the proposal for conducting 2D seismic survey for data acquisition, processing and interpretation (API) of 48,243 line kilo metres (LKM).  The estimated cost of the project is Rs 2932.99 crore and the project is proposed to be completed by 2019-20.

As on October 31, 2018, surface coverage of 28485 LKM, out of 48,243 LKM has been achieved under 2D Seismic data acquisition under National Seismic Programme.

v) Policy framework for streamlining the working of the production sharing contracts:  Under this policy, government has allowed  2 years  extension in exploration period  and  1 year in appraisal period for operational blocks in NER besides allowing marketing including pricing freedom for natural gas produced in future in NER; sharing of the statutory levies including royalty & cess in Pre-NELP exploration blocks and to be cost recoverable with prospective effect; extending tax benefits under Section 42 of Income Tax, 1961 to operational blocks under Pre-NELP discovered fields prospectively.

vi) Re-assessment of hydrocarbon resources: A multi organisation team  comprising of representatives of ONGC, OIL and DGH has carried out estimation of hydrocarbon resource potential in the country. The prognosticated conventional hydrocarbon resources in 26 sedimentary basins of the country are of the order of 41.87 billion tones (oil and oil equivalent of gas), which is about 49 per cent increase as compared to earlier estimates of 28.08 billion tones.

vii) Policy framework for exploration & exploitation of unconventional hydrocarbons under existing production sharing contracts, coal bed methane contracts & nomination fields: Government has approved the policy to encourage the existing contractors in the licensed/leased area to unlock the potential of unconventional hydrocarbons in the existing acreages. Under this policy, an area of 72,027 sq. km. held under PSCs and 5269 sq. km area under CBM contracts has been opened up for simultaneous exploration and exploitation of conventional or unconventional hydrocarbons.

Natural gas

In order to promote the usage of natural gas as a fuel/feedstock across the country and move towards a gas based economy, the development of additional 13,500 Km long gas pipeline is under way to complete the gas grid.  The status of major under-construction gas pipeline project is:

i) Pradhan Mantri Urja Ganga Project:The 2655 km pipeline project is being executed at an investment of Rs.12,940 Crore, which includes 40 per cent capital grant (i.e. Rs 5,176 cr) from the Centre and the project is scheduled to be completed progressively by December, 2020. JHBDPL will cater to the energy requirements of five states -- Uttar Pradesh, Bihar, Jharkhand, Odisha and West Bengal.

ii) Barauni - Guwahati Pipeline: To extend the gas grid upto north east, development of a 729 km long pipeline from Barauni to Guwahati has been allowed as an integral part  of JHBDPL project. Pipe procurement and laying work tenders are under progress. This project is scheduled to be commissioned by December 2021.

iii) North East Region Gas Grid: To further extend the gas grid to each states of North-East and Sikkim, a Joint Venture company, named Indradhanush Gas Grid Ltd, has been formed by five oil & gas PSUs. This JVC will develop NER gas gird of about 1,656 km long in all north eastern states in a phased manner at the total cost of about Rs 9,265 crore.

iv) Kochi-Koottanad-Bangalore-Mangalore pipeline: GAIL is developing 872 km long pipeline at an investment of Rs 5,150 crore in the Kerala  and Tamil Nadu. Construction is expected to be completed by mid of 2019.

v) Ennore-Thiruvallur-Bengluru-Puducherry-Nagapatinam-Madurai-Tuticorin pipeline: Indian Oil is developing a 1385 km pipeline at the investment of Rs 4,497 crore. This pipelinelaying work is under progress.

Marketing

i) Pradhan Mantri Ujjwala Yojana: In order to provide clean cooking fuel to BPL households in the country, the government has launched Pradhan Mantri Ujjwala Yojana (PMUY) scheme to provide 5 crore deposit-free LPG connections to women belonging to the BPL families.Later, it was increased to 8 crore with a budgetary allocation of Rs 12800 crore.

The initial target of 5 crore connections was achieved well before the target i.e. March 31, 2019.  As on 5.12.2018, more than 5.83 crore connections have been released under the scheme. Implementation of PMUY has resulted in significant increase in national LPG coverage, in general and eastern states, in particular.

ii) PAHAL: Government, as a measure of good governance, has introduced well targeted system of subsidy delivery to LPG consumers through PAHAL.  The initiative of the government was aimed at rationalising subsidies based on approach to cut subsidy leakages, but not subsidies themselves.

As on December 6, 2018, more than 23.08 crore LPG consumers have joined the PAHAL Scheme. PAHAL has entered into Guinness book of world record being largest Direct Benefit Transfer Scheme. So far, more than Rs 96,625 crore have been transferred into the bank accounts of consumers.

PAHAL has helped in identifying ‘ghost’ accounts, multiple accounts and inactive accounts. This has helped in curbing diversion of subsidised LPG to commercial purposes. So far, estimated savings due to implementation of Pahal is approximately Rs 50,000 crore.

iii) Automation at OMC ROs: To enhance customer confidence through Q&Q (Quality & Quantity) of fuel and minimises chance of fraudulent transactions, the ministry has given target to OMCs to automate all ROs across the country wherever feasible. As on November 1, 2018, 70 per cent of ROs have been automated across the country.

iv) Promotion of digital payments undertaken by MoP&NG: There has been a significant expansion of digital payment infrastructure at retail outlets. As on November 20, 2018, 1,00,876 POS terminals and 92,408 e-wallet facility have been provided at 53,717 (98 per cent) petrol pumps across the country, 52,959 retail outlets have been enabled with BHIM UPI. All the LPG distributors and city gas distribution companies are enabled with BHIM UPI.

v) Retail outlet dealer selection advertisement released: Expansion of retail outlet network (petrol Pumps) is undertaken by oil marketing companies primarily to meet the growing fuel needs and convenience of customers in emerging markets like

upcoming highways, agricultural pockets and industrial hubs. The retail outlet network in rural, remote and far-flung areas are also being expanded with the intention of reaching product,  ensuring quality and correct price to meet the rural agricultural demand and people living in remote areas. Additionally, the expansion of retail outlet network is expected to generate employment opportunities also.

RefineryOut of the 23 refineries operation in the country, 18 are in public sector, 3 are in private sector and two as a joint venture with a total refining capacity of 247.566 MMTPA. Out of the refining capacity of 247.566MMT, 142.066 MMT is in the public sector, 17.30MMT in joint venture and the balance 88.2 MMT is in the private sector. The country is not only self-sufficient in the refining capacity for its domestic consumption but also exports sufficient quantity of petroleum products.

Auto fuel policy

i) Introduction of BS-IV & BS-VI fuels: Ministry of Petroleum & Natural Gas has notified implementation of BS-IV auto fuels in the entire country in a phased manner. It has also been decided that the country will leapfrog directly from BS-IV to BS-VI fuel standards and BS-VI standards will be implemented in the country by 2020.

ii) Ethanol Blended Petrol (EBP) programme: For ethanol supply year 2018-19, the government has fixed remunerative price for ethanol procurement based on raw material utilised for ethanol production.

iii) Bio-diesel programme: Purchase orders have been issued by oil

marketing companies for supply of 8.14 crore litres of biodiesel during the period May – October, 2018, with provision for extension for three months.

iv) Second generation ethanol: Subsequent to opening up of alternate route i.e. Second Generation (2G) route for ethanol production, oil marketing companies are in the process of setting up 12 2G bio-refineries with an investment of Rs10,000 crore.  

v) National policy on biofuels – 2018: The government has notified national policy on biofuels 2018 on June 2018 which is expected to give boost to the biofuel programme.

vi) Joining of advanced motor fuels: Ministry of Petroleum and Natural Gas joined Advanced Motor Fuels (AMF), a technology collaboration programme (TCP) under International Energy Agency (IEA) as member on May 2018.  It is an international platform to promote collaboration in R&D for developing advanced motor fuels / alternate fuels with greater focus on improving fuel efficiency and reduced GHG emissions.

vii) SATAT Initiative: The ministry has decided to give vide publicity to the initiative of Sustainable Alternative Towards Affordable Transportation (SATAT initiative)  by organising road shows in Bhubaneswar, Chandigarh and Lucknow to promote Compressed Bio Gas (CBG) production and use.

International cooperation

i) Overseas  sourcing

February 2018, an Indian Consortium of OVL, IOCL and BPRL acquired 10 per cent participating interest in Abu Dhabi’s offshore Lower Zakum oil field.

*The first long term LNG cargo from US arrived at Dhabol on March 30, 2018.

*In April 2018, IOCL acquired 17 per cent stake in the Mukhaizna Oilfield, Oman.

*The first long term LNG cargo from Russia arrived at Dhahej on June 4,  2018.

ii) Important agreements / contracts

*Saudi Aramco and ADNOC signed an MoU in June 2018 to jointly develop and build an integrated refinery and petrochemicals complex promoted by Ratnagiri Refinery & Petrochemicals Ltd.

*India and US launched strategic energy partnership ministerial level energy dialogue process on April 17,  2018.

*PMs of India and Nepal launched the ground-breaking ceremony of India-Nepal petroleum products pipeline from Motihari to Amlekhgunj through live-streaming in New Delhi on April 7, 2018.

*A tripartite MoU was signed between Petronet LNG of India, Sri Lanka Ports Authority, and a Japanese company in April, 2018 to set up LNG terminal at Colombo.

*ISPRL and ADNOC (of UAE) signed a restated definitive agreement on oil storage and management on February 10, 2018 for filling 5.86 million barrels of crude oil in the Mangalore SPR facility.

*On September 18, 2018, India-Bangladesh Friendship Pipeline was inaugurated by the prime ministers of India and Bangladesh.

*On November 12, 2018 an MoU was signed between ISPRL and ADNOC for exploring participation of ADNOC in Padur SPR.

Source: Government of India

The energy landscape

Source: EP

US conducts 6 airstrikes against Somalia extremists, kill 62 - e paper - english news paper today - news headlines today

US conducts 6 airstrikes against Somalia extremists, kill 62 - e paper - english news paper today - news headlines today
US conducts 6 airstrikes against Somalia extremists, kill 62

The US military says it has carried out six airstrikes in the Gandarshe area of Somalia which killed a total of 62 al-Shabab extremist rebels.

In a statement issued Monday, the US military's Africa command said it carried out four strikes on December 15 in which 34 people were killed and two more on December 16 which killed 28.

All the air attacks were in the Gandarshe coastal area south of the capital, Mogadishu, it said.

No civilians were injured or killed in the attacks, it said.

All six strikes were carried out in close coordination with Somalia's government, it said.

The airstrikes were "conducted to prevent al-Shabab from using remote areas as a safe haven to plot, direct, inspire, and recruit for future attacks," it said.

Al-Shabab uses parts of southern and central Somalia to plot and direct extremist attacks, steal humanitarian aid, extort the local populace to fund its operations, and shelter radicals, said the statement.

With these attacks, the U.S. Military has carried out at least 46 airstrikes so far this year against al-Shabab, which is allied to al-Qaida and Africa's most active Islamic extremist group. Al Shabab controls parts of rural southern and central Somalia and continues to stage deadly attacks in Mogadishu and other cities.

The US airstrikes have picked up dramatically since President Donald Trump took office and approved expanded military operations in the Horn of Africa nation. Airstrikes also target a small presence of fighters linked to the Islamic State group.

US conducts 6 airstrikes against Somalia extremists, kill 62

Source: EP

Gehlot takes charge in Rajasthan, Pilot appointed deputy - e paper - english news paper today - news headlines today

Gehlot takes charge in Rajasthan, Pilot appointed deputy - e paper - english news paper today - news headlines today
Gehlot takes charge in Rajasthan, Pilot appointed deputy
City: 

Senior Congress leader Ashok Gehlot on Monday took oath as the Rajasthan chief minister while state party chief Sachin Pilot was appointed as his deputy in a ceremony that turned into a show of strength for Opposition unity.

Governor Kalyan Singh administered oath of office to Gehlot at the historic Albert Hall. Pilot took oath as a minister and was subsequently appointed as the deputy chief minister by the governor in the presence of a large number of leaders from various political parties.

Congress president Rahul Gandhi, former PM Manmohan Singh, outgoing CM Vasundhara Raje attended the event. NCP chief Sharad Pawar, TDP supremo and Andhra Pradesh CM Chandrababu Naidu, NC president Farooq Abdullah and RJD leader Tejashwi Yadav were also present.

Janata Dal (Secular) president and former PM HD Deve Gowda, Karnataka CM HD Kumaraswamy and JMM's Hemant Soren were among others who attended the event. DMK president MK Stalin, who had on Sunday proposed the name of Gandhi as the prime ministerial candidate of the proposed anti-BJP front, was also there at the ceremony.

Gehlot became the fourth leader to hold the chief minister's post for a third time. The Congress leader became the chief minister for the first time in 1998 and held the post again in 2008. Pilot was wearing a ‘safa’ or a traditional turban as a mark of victory of the Congress in the state. The state Congress president had pledged in 2014 to not wear the traditional headgear till the party returns to power.

Prior to the oath ceremony, Gehlot and Pilot and other leaders welcomed Gandhi, Manmohan Singh and others at the Jaipur airport, from where they left to the Albert hall, an iconic structure located in the heart of the city. This is for the first time that the oath-taking ceremony of the chief minister took place at the hall. Traditionally, such ceremonies are held at Raj Bhawan. Raje, however, had taken oath outside the Assembly building in 2003 and 2013.

Gehlot takes charge in Rajasthan, Pilot appointed deputy

Source: EP

Monday, December 17, 2018

Tech Mahindra Recruitment 2018 – Various Associate Process Consultant Posts | Apply Online

Tech Mahindra Recruitment 2018 – Various Associate Process Consultant Posts | Apply Online
Tech Mahindra Recruitment 2018 – Various Associate Process Consultant Posts | Apply Online

Organization Name: Tech Mahindra

Tech Mahindra Recruitment 2018

Employment Type: Private Jobs

Total No. of Vacancies: Various

Job Location: Pune

Name of the Post:

  • Associate Process Consultant

Qualification:

  • Applicants who have completed Any Degree with relevant experience or equivalent from a recognized Institute for Tech Mahindra 2018

Selection Procedure:

  • Written test
  • Group Discussion
  • Personal Interview

Pay Scale:

  • Tech Mahindra recruitment 2018 will get an excellent salary package along with incentives, perks, and other facilities according to post qualification and experience of applicants

How to Apply:

  • Eligible & Interested applicants can apply via online in Official website page at www.techmahindra.com Tech Mahindra Recruitment 2018

Instructions to Apply:

  • Log on to the Official website of Tech Mahindra www.techmahindra.com
  • Then, Click on the careers link.
  • Select the link available for the opening.
  • Fill the Application with required details for Tech Mahindra requirement 2018

Important Link:

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The post Tech Mahindra Recruitment 2018 – Various Associate Process Consultant Posts | Apply Online appeared first on Kappa Jobs.



Source: KJ

Southern Railway Recruitment 2019 – 853 Fitter, Electrician Posts | Apply Online

Southern Railway Recruitment 2019 – 853 Fitter, Electrician Posts | Apply Online
Southern Railway Recruitment 2019 – 853 Fitter, Electrician Posts | Apply Online

Organization Name: Southern RailwaySouthern Railway Recruitment 2019Employment Type: Railway Jobs

Total No. of Vacancies: 853

Job Location: Trichy

Name of the Post:

  • Fitter
  • Electrician
  • Machinist
  • Turner
  • Welder (Gas & Electric)
  • Advance Welder
  • Electronics Mechanics
  • Painter
  • Carpenter
  • Diesel Mechanic
  • Plumber
  • Wireman
  • Refrigeration & AC Mechanic
  • Electronics/Information Technology
  • Instrument Mechanic
  • Draughtsman (Civil)
  • Fresher MTL (Radiology)
  • Fresher MTL (Pathology)
  • Fresher (Fitter)

Qualification:

  • Applicants who have completed 10th,12th Pass under 10+2 system, ITI or equivalent from a recognized Institute for Southern Railway Recruitment 2019.

Age Limit:

  • Minimum Age: 15 Years
  • Maximum Age: 24 Years

Pay Scale: 

  • As per Southern Railway Notification 2019

Selection Procedure:

  • Merit List
  • Interview

How to apply: 

  • Eligible & Interested candidates can Apply Via Online In Official website page at www.sr.indianrailways.nic.in Southern Railway Recruitment 2019.

Instruction to Apply: 

  • Log on to Southern Railway careers page at the official website https://ift.tt/2PHrI2y
  • Eligible candidates are advised to open the online application form.
  • Fill your academic qualification, skill, experience, and other related information as per the instructions
  • Attach self-attested copies of all relevant documents in prescribed format and size.
  • Pay the application fee as per the category.
  • Complete the Southern Railway Jobs Application Form with the essential data.
  • Check the Details before Submitting.
  • Take a print out of Southern Railway  Recruitment 2019 online application form

Important Dates:

  • Starting Date for Submission of Application: 17.12.2018
  • Last date for Submission of Application: 13.01.2019

Important Link:

Other posts you might be interested in: 

RRC WR Recruitment 2019 – Various Scouts and Guides Quota Posts

RRC SWR Recruitment 2019 – 963 Fitter, Electrician Posts

Northern Railway Recruitment 2019 – Various Sports Quota Posts

The post Southern Railway Recruitment 2019 – 853 Fitter, Electrician Posts | Apply Online appeared first on Kappa Jobs.



Source: KJ

GPSC Recruitment 2018 – Various Agriculture Officer Posts | Apply Online

GPSC Recruitment 2018 – Various Agriculture Officer Posts | Apply Online
GPSC Recruitment 2018 – Various Agriculture Officer Posts | Apply Online

Organization Name: Gujarat Public Service Commission (GPSC)GPSC Recruitment 2018Employment Type: Gujarat Govt Jobs

Total No. of Vacancies: 101

Job Location: Gujarat

Name of the Post:

  • Agriculture Officer: 101

Qualification:

  • Applicants who have completed Bachelor’s degree in Science (Agriculture) or equivalent from a recognized Institute for GPSC Recruitment 2018.

Age Limit:

  • Minimum Age: 21 Years
  • Maximum Age: 35 Years

Pay Scale: Rs.9,300 – Rs.34,800/-

Selection Procedure:

  • Written Exam
  • Interview

Application Fee:

  • General / OBC: Rs.100/-
  • ST / SC / Ex-s / PWD: No Fees

How to Apply:

Instructions to Apply:

  • Eligible candidates are advised to open the online application form.
  • Fill your academic qualification, skill, experience, and other related information as per the instructions
  • Attach self-attested copies of all relevant documents in prescribed format and size.
  • Pay the application fee as per the category.
  • Complete the GPSC Vacancy with the essential data.
  • Check the Details before Submitting.
  • Take a print out of GPSC Recruitment 2018 Online application form.

Important Dates:

  • Starting Date for Submission of Application: 15.12.2018
  • Last date for Submission of Application: 31.12.2018

Important Link:

Other posts you might be interested in: 

GPSC Recruitment 2018 – Various Agriculture Officer Posts

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The post GPSC Recruitment 2018 – Various Agriculture Officer Posts | Apply Online appeared first on Kappa Jobs.



Source: KJ

CUSAT Recruitment 2019 – Various Assistant Professor Posts | Apply Online

CUSAT Recruitment 2019 – Various Assistant Professor Posts | Apply Online
CUSAT Recruitment 2019 – Various Assistant Professor Posts | Apply Online

Organization Name: Cochin University of Science and Technology (CUSAT)

CUSAT Recruitment 1

Employment Type: Kerala Govt Jobs

Total No. of Vacancies: Various

Job Location: Kerala

Name of the Post:

  • Civil Engineering
  • Information Technology
  • Mechanical Engineering

Qualification:

  • Applicants who have completed B.E/ B.Tech and M.E/M.Tech or equivalent from a recognized Institute for CUSAT Recruitment 2018.

Age Limit:

  • As per CUSAT Notification 2018

Pay Scale: Rs. 40 000/-

Selection Procedure:

  • Interview

How to Apply:

  • Eligible & Interested candidates can Apply Via Online In Official website page at www.cusat.ac.in CUSAT Recruitment 2018.

Instructions to Apply:

  • Eligible candidates are advised to open the online application form.
  • Fill your academic qualification, skill, experience, and other related information as per the instructions
  • Attach self-attested copies of all relevant documents in prescribed format and size.
  • Pay the application fee as per the category.
  • Complete the CUSATk Vacancy with the essential data.
  • Check the Details before Submitting.
  • Take a print out of CUSAT Recruitment 2019 Online application form.
  • Applicants send their hard copies of the signed application Filled along with photocopies of ID proof, Proof of Date of Birth, Educational Certificates (Mark-Sheets/Degree Certificate), Caste and attested copies of relevant documents should be sent to the following address (Address mentioned in official notification) by post. Envelope must be superscribed with “Application For The Post of …………….”

Address:

  • The Register,
    Cochin University of Science and Technology,
    Cochin – 22

Important Dates:

  • Starting Date for Submission of Application: 11.12.2018
  • Last date for Submission of Application: 11.01.2019

Important Link:

Other posts you might be interested in:

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The post CUSAT Recruitment 2019 – Various Assistant Professor Posts | Apply Online appeared first on Kappa Jobs.



Source: KJ