Last month India s chief statistician TCA Anant known as for a assembly of officers of the economic system and infrastructure ministries to brainstorm on the way to capture logistics as a separate head in calculating India s gross home product (GDP). It sounds unusual however India does now not have an legit parent on the state s logistics value to the GDP not like within the US (9.Five in line with cent ) Germany (eight per cent ) and most different international locations. A quantity of presidency files which includes a presentation made to a committee of secretaries in October final yr however stated the discern at 13-14 per cent even as making an issue that India s logistics cost turned into excessive making products more expensive and the export uncompetitive. The 14 according to cent determine in fact turned into borrowed from a record organized by means of industry foyer Assocham in 2016 forcing the Ministry of Statistics and Programme Implementation headed through Anant to step in to search for an legit wide variety. But the confusion isn't restrained to the logistics parent. Till the Allocation of Business Rules of 1961 turned into amended in July 2017 to create a brand new logistics department under a unique secretary-ranked officer in the Ministry of Commerce and Industry logistics turned into dealt with through as a minimum seven ministries railways road transport and highways shipping civil aviation trade and enterprise finance and domestic affairs. Then regulatory groups together with Animal Quarantine Certification Service a body underneath the Agriculture Ministry that checks entry of special illnesses at the same time as uploading farm animals merchandise and the Food Safety and Standards Authority of India an employer beneath the Ministry of Health that issues meals import clearances also come into play in the logistics domain. On the Move Though the logistics division was created on paper in July it commenced setting up its crew handiest considering the fact that November. The Finance Ministry s approval of its inspiration to supply infrastructure repute to the logistics quarter is being counted as its first success. The provide of infrastructure popularity to logistics way the agencies associated with the sector will now get get right of entry to to cheaper and long-term loans. Logically the logistics division must be within the Ministry of Commerce and Industry. This is the ministry that offers with change... If there s one impediment that s coming in the manner of India becoming a exceptional financial power it s logistics. We should increase the speed and reduce costs Commerce and Industry Minister Suresh Prabhu instructed ET Magazine adding that the new department is already at work to installation a virtual platform for logistics enterprise authorities departments and ministries and regulatory our bodies (See interview We are creating a virtual logistics platform ). For the brand new department a crew of forty five personnel is being installation in Udyog Bhawan home of the Ministry of Commerce and Industry among others. Binoy Kumar a 1983 batch Indian Administrative Service officer and the pinnacle of the department has known as the primary inter-ministerial assembly subsequent week to talk about the us of a s logistics roadmap and ways for higher coordination amongst its stakeholder ministries. A kingdom-smart logistics ranking document is also in all likelihood to be launched in the coming week. Kumar s 2nd-incommand joint secretary Anant Swarup is an Indian Railway Personnel Service officer who worked closely with Prabhu while the latter changed into the railway minister till September 3 ultimate year. Swarup become introduced into the department in November. Though the sanctioned workforce of the department includes 12 junior officials like underneath secretaries phase officials and stenographers it's miles possibly to recruit specialists and young experts as opposed to take the standard route of hiring government clerks and stenos lets on an professional. Prabhu does not want to spell out the department s target in public as but but files reviewed by using ET Magazine country that two of its immediately targets are bringing down logistics cost to less than 10 in step with cent of the GDP and growing jobs in the logistics area to forty million by means of 2019 from 22 million now. Then there may be scope for further improvement of India s rating within the World Bank LPI (Logistics Performance Index) which rose from fifty four in 2014 to 35 in 2016. Also the division is probable to map out the maximum fee- and-time-powerful modes throughout India thru a digital platform. After all why ought to the dearer roadways be allowed to corner sixty five according to cent of India s freight with the Indian Railways getting most effective 26 in step with cent or 1.1 billion tonnes of freight even though the rail is a cheaper mode of delivery for trips past 300 kilometres? A Super Transport Ministry? The authorities s decision to residence the new logistics department in the Ministry of Commerce and Industry is a good move. After all not like roadways railways and delivery trade ministry is neutral and it does no longer compete with other ministries to grab a bigger logistics pie says RR Joshi chairman of Associated Container Terminals a employer that installed India s first dry port in Faridabad a long time in the past. Joshi however cautions that the brand new division should now not venture into capping the logistics pricing on the way to deliver down overall charges on logistics: The division should rather facilitate the industry and get rid of glitches. The cost will then robotically come down. Joshi is likewise the president of the National Association of Container Freight Stations. Congress chief and former company affairs minister Sachin Pilot says he does now not suspect the government s goal in creating a separate logistics entity. However he says The new logistics division may also nicely end up simply every other bureaucratic structure. What s wanted is higher coordination amongst ministries coping with logistics and now not any other entity. Will one shoe in shape all? Asks Pilot adding every ministry s logistics approach can t be comparable. But then why have to individual ministries be allowed to paintings in silos and compete with each different to grab a larger marketshare on the cost of jacking up the logistics fee? And if the railways for example is the right mode for a selected stretch why should goods be endorsed to be transported thru roadways a much costlier mode? These are legitimate doubts however the far larger query is whether a department housed in the Commerce and Industry Ministry in the end succeeds in positioning itself as a splendid delivery ministry exerting its have an impact on on logistics biggies like railways roadways and shipping? Time and logistics will tell.
NEW DELHI: Asserting that India is the best economic system to adopt some of structural reforms finance minister Arun Jaitley on Saturday stated those measures can create a transient hiatus but inexperienced shoots are already coming out. Jaitley stated that even when the arena financial system had bogged down India endured to grow at an affordable tempo. We are one in all the largest economies... (and) for 3 years in a row the quickest developing economic system in the world and we were perhaps the handiest economic system within the world which had the courage to provoke structural reforms Jaitley said at the UCO Bank s Platinum Jubilee party here. On a careful observe he stated that structural modifications can create a temporary hiatus inside the financial system. Jaitley changed into seemingly relating to structural modifications in shape of steps like demonetisation announced on November 8 2016 and Goods and Services Tax (GST) rollout from July 1 remaining yr. These measures can create a brief project. Then as quickly as the project gets over the curve starts offevolved moving once more it actions for the better and we will see the ones inexperienced shoots already coming... He said.
Amid a sequence of warnings issued with the aid of the Reserve Bank of India (RBI) and finance ministry in opposition to the growing hobby in bitcoins the cryptocurrency operators maintain to live upbeat approximately the bitcoin s future in India. There are numerous specialists who referred to as the bitcoin rally a bubble set to burst . European Central Bank (ECB) vice president Vitor Constancio even went to the extent of comparing it with Tulip mania even as Nobel prize-prevailing economist Joseph Stiglitz advised that the bitcoins be outlawed. On December 29 finance ministry even stated that investing in cryptocurrencies is like Ponzi schemes and the union finance minister Arun Jaitley announced in Rajya Sabha that bitcoin isn't a felony gentle.But the investors take heart within the truth that despite the warnings the corporations have no longer taken any company stand in opposition to bitcoins to date or outlawed them therefore preserving their current popularity on tenterhooks.No wonder then that the bitcoin trade operators in India aren't as circumspect as are the smart human beings in academia and regulating organizations. Zebpay s co-founder Sandeep Goenka says that the nations future will soon depend upon whether they adopt this era or now not. We trust the future of countries will depend on adopting this generation. Just like no nation can afford no longer to undertake the Internet we shall understand that every nation will strongly enjoy the adoption of this era. This era can make India a international fintech hub be an tool of monetary inclusion and save India billions of bucks in remittance expenses paid to non-Indian agencies. On being asked approximately the bitcoin rally being called a bubble Goenka said Depends the term you outline for a bubble. In the fast to medium time period it s very difficult to comment. We are believers of this technology within the long time. Representative of Unocoin any other bitcoin wallet in India pitches for self-policies by means of the bitcoin businesses rather than diktats issued with the aid of RBI and authorities. He additionally regarded upbeat about the proliferation of hobby in bitcoins among Indian buyers.Sharan Nair vice chairman advertising of Unocoin stated All outstanding bitcoin groups are self-regulatory and do proper and stringent KYC (recognize your customer) and AML (anti-cash laundering) documentation of its users. Without a doubt I can say that there was a wonderful amount of interest among the Indian masses about cryptocurrencies and this is obtrusive from the surge in wide variety of consumer registrations throughout exchanges in India. Bitcoin prices jumped almost 14 instances in 2017 at the same time as they as soon as even smashed past 19 500 on December 17. On January 6 bitcoin trades around sixteen 400 on Luxembourg-based BitStamp and around Rs eleven.10 lakh on Zebpay (around 7% higher than the international fee).About the large rise of bitcoin fees Nair said Bitcoin fees are determined essentially on the call for and supply. As greater people understand about Bitcoins and its functioning they would need to preserve a few bitcoin and this results in an increase in the call for for bitcoin and subsequently its fee gets affected. I wouldn t deny that there have been a whole lot of human beings shopping for bitcoin without understanding the outcomes but how a whole lot of it contributes to the charge rally is controversial. CommentsClose X
NEW DELHI: President Ram Nath Kovind on Saturday urged all new important universities to ensure that college vacancies are filled. Kovind held the multistakeholder brainstorming session as he put it to tide over issues being confronted by means of 17 new significant universities which have arise because 2009. The consultation which also had HRD minister Prakash Javadekar and representatives of the ministry of finance in attendance gave an possibility to the vice-chancellors to talk about diverse troubles like selection and recruitment of college education and updating competencies of educational personnel infrastructure financial constraints integration of technology and others. Urging the VCs to strictly adhere to the instructional calendar Kovind stated Vacancies should be crammed quick and urgently. Vacancies in coaching staff are unfair on college students who've enrolled and a disservice to their schooling. Suggesting that retired professors be engaged for particular periods to fill vacancies Kovind said that making plans for imminent vacancies have to be achieved months earlier. Calling the VCs chief govt of their universities the President introduced that as custodians of public finances enforcing monetary discipline and upkeep of debts become important . Where feasible it is able to be prudent to usher in officials from the important offerings as registrars and economic officials. This might help ensure sure standards he delivered.
By: Express News Service retain kingdom birthday celebration chiefs AICC plenary possibly to be held in BengaluruPatidar chief Paresh Dhanani to steer Congress in Gujarat AssemblyVP Venkaiah Naidu refers note against Rahul Gandhi to LS Speaker Sumitra MahajanWith the Central Statistics Office forecasting GDP growth of 6.5 in step with cent for 2017-18 a 4-12 months low the Congress on Saturday stated the worst fears of an coming near near financial slowdown have come true. The celebration argued that the government s tall claims and false bravado on India growing at a sturdy fee have evaporated. Congress president Rahul Gandhi had on Friday night tweeted FM Jaitley s genius combines with Mr Modi s Gross Divisive Politics (GDP) to offer India: New Investments: thirteen year down arrow to signify low ; Bank credit Growth: sixty three year low ; Job creation: eight 12 months low ; Agriculture GVA boom: 1.7% low ; Fiscal Deficit: eight 12 months GDP increase to hit four-12 months-low at 6.Five%: Govt forecast On Saturday former Union Finance minister P Chidambaram said The worst fears of an forthcoming economic slowdown have come true. (The) Modi government s tall claims of India developing at a sturdy increase price have evaporated in skinny air. No amount of sugar coating false bravado and rhetoric along with headlines control can conceal the stark truth. Our fears and warnings have proved authentic. GDP increase in 2015-sixteen 2016-17 and 2017-18 (est) is eight.Zero 7.1 and 6.5 consistent with cent . These numbers prove there's a slowdown. Former Union minister Anand Sharma said that contrary to the Modi government s claims India s is not a galloping economic system but is a gasping financial system. It is a struggling financial system where all the parameters have been constantly happening . Will the Prime Minister now stop saying and the Finance Minister prevent claiming that India is the quickest growing economy? We have cautioned the authorities now not to be conceited but to be trustworthy. Chidambaram stated the decline in financial activity and boom has intended activity losses and an abysmal charge of process advent. New project bulletins have declined sparkling investment is low the casual quarter is still reeling underneath the ill-consequences of demonetisation activity introduction is abysmal exports are plunging manufacturing area boom has slowed down agriculture quarter has been hit hard and rural melancholy is abundant he said. Calling the shortage of recent task introduction the single largest failure of this BJP government Chidambaram stated In a slowdown how will jobs be created? And how will the promised 2 crore jobs in line with 12 months be created? . The latest social discontent consequently can be a right away manifestation of this economic slowdown which the authorities become quite simply hiding. It is time the government stops making tall claims and bends right down to do stable paintings. He additionally stated Retail inflation soared to a 15-month excessive of four.88 per cent in November and business output slowed to a 3-month low of two.2 in keeping with cent in October. Arguing that new assignment announcements by using Indian groups have touched a thirteen-yr low he said the funding image normal stays bleak. On Saturday s blast in Sopore Kashmir that killed 4 policemen Sharma said This government has singularly failed in reassuring the united states about our preparedness to relaxed our defence establishments and our residents in opposition to such attacks. We are absolutely inside the darkish as to what has been discussed between the National Security Advisers of India and Pakistan (of their latest meeting) .What has been the final results? For all of the modern day India News download Indian Express App More Related News RS Chairman Venkaiah Naidu sends privilege notice in opposition to Rahul Gandhi to Lok Sabha Speaker Rahul mocks executive: Jaitley s genius combines with Modi s Gross Divisive Politics for negative GDP estimate Tags: India GDP forecast Rahul Gandhi Socrates SantosJan 7 2018 at 7:43 amBetween an beneath-active coverage-paralytic and corrupt CONgress rule this is ruining the future of the nation - And a seasoned-energetic dynamic and honest BJP rule I d pick PM Modi s BJP anyday. GDP figures are cyclical however the competition does have a valid point in criticizing the authorities for now not sharing a plan and timeline for improving GDP boom numbers. I am sure that the range will improve before 2019 elections.(four)(eleven) Reply
New Delhi: Congress President Rahul Gandhi today attacked the centre for the financial stoop inside the usa and described GDP as the Gross Divisive Politics of Prime Minister Narendra Modi.Rahul Gandhi targeted both PM Modi and Finance Minister Arun Jaitley for the slowdown in funding financial institution credit growth process creation and agricultural boom. FM Jaitley s genius combines with Modi s Gross Divisive Politics (GDP) to give India: New Investments: thirteen year (low) Bank credit Growth: sixty three year (low) Job creation: 8 yr (low) Agriculture GVA growth: 1.7% (low) Fiscal Deficit: 8 12 months (high) Stalled Projects (high) Rahul Gandhi tweeted. CommentsClose X Mr Gandhi also tweeted a news record in which the Central Statistics Office (CSO) has projected that economic boom rate for 2017-18 may be decrease than the 7.1 per cent that became completed in 2016-17.Implementation of the Goods and Services Tax and subsequent slowdown in the production quarter become expected to drag down India s increase to 6.5 according to cent in 2017-18 professional data confirmed on Friday.
NEW DELHI: Congress president Rahul Gandhi stated on Saturday that PM Narendra Modi s gross divisive politics (GDP) had given India a sixty three-year low in bank credit score boom and an 8-year low in task introduction. Tagging a media record at the government forecasting
https://www.dynomighty.com/user/kktatasky/ a GDP increase of 6.5% this monetary yr Rahul additionally took a swipe at Arun Jaitley tweeting that the finance minister s genius mixed with Modi s gross divisive politics (GDP) had visible new investments dip to their lowest point in thirteen years. He additionally claimed that the financial deficit had extended and projects have been stalled. Rahul s GDP jibe follows his in advance coinage of the word Gabbar Singh tax to corner BJP authorities over the goods and offerings tax (GST) and Fake in India to counter the PM s Make In India marketing campaign. Slamming the government over decrease growth estimates for the present day monetary senior Congress member P Chidambaram stated the worst fears of an coming near near monetary slowdown have come proper . The Modi government s tall claims of India developing at a sturdy growth rate have evaporated into skinny air. No quantity of sugar-coating false bravado and rhetoric at the side of headlines control can conceal the stark reality. Our fears and warnings have proved real he said. In a announcement the Congress MP stated the latest social discontent will be a right away manifestation of this financial slowdown which the authorities became readily hiding . It changed into time the authorities stopped making tall claims and did some stable work he added. Attacking the ruling dispensation over the country of the economic system Chidambaram stated New task bulletins have declined clean investment is low casual region is reeling below the sick outcomes of demonetisation. Job introduction is abysmal exports are plunging and production sector increase has slowed down. He delivered that the agriculture zone had been hit difficult and rural melancholy was considerable. The former FM stated the GDP boom charge became 8% in 2015-16 and 7.1% in 2016-17. It is estimated at 6.5% in 2017-18 which proves there's a slowdown . A decline in economic pastime and boom meant the lack of tens of millions of jobs he stated. The anticipated boom of actual GVA (gross cost brought) at primary
https://www.diabloii.net/forums/members/shopozo.419506/ charges in 2017-18 is 6.1% as towards 6.6% in 2016-17 he said. Retail inflation soared to a fifteen-month excessive of 4.88% in November and industrial output hit a three-month low of two.2% in October Chidambaram said. The funding picture stays bleak... The production region has seen the sharpest fall and economic deficit is probable to overshoot the price range estimates of 3.2% of GDP he introduced Updated: January 6 2018 5:fifty two pm Niti Aayog vice-chairman Rajiv Kumar. (Source: ANI image) Related News Uttarakhand guy consumes poison goes to BJP minister with grievance on noteban GSTFaces at the fringes of news: Demonetisation GST now coins Uttarakhand businessman enters BJP office after ingesting poison blames GST and demonetisationA day after the Central Statistics Office (CSO) projected that India s GDP is predicted to grow at 6.5 in keeping with cent a 4- year low Niti Aayog vice-chairman Rajiv Kumar known as it an achievement. Kumar said that even after big reforms like items and offerings (GST) and demonetisation the GDP did now not lessen that an awful lot. When Manmohan Singh delivered some reforms in 1991-ninety two our GDP turned into decreased to 1.1. In contrast to that it s an success that even after big reforms like GST and demonetisation our GDP didn t face that reduction ANI quoted Kumar as announcing. CSO information showed increase turned into lower than the 7.1 in step with cent it touched within the previous financial yr due to slowdown within the agricultural and manufacturing output. However the Gross Value Added (GVA) is estimated at 6.1 per cent for 2017-18 down from 6.6 according to cent inside the previous economic yr. The Congress has accused Prime Minister Narendra Modi and Finance Minister Arun Jaitley of ignoring financial wisdom and working a catastrophic blow to India s growth story. Earlier inside the day former finance minister P Chidambaram said The worst fears of an impending financial slowdown have come actual. The Modi authorities s tall claims of India developing at a strong boom price have evaporated in thin air. Congress President Rahul Gandhi took to Twitter to mock Jaitley and PM Modi s mixture for the gradual economic growth. For all of the modern India News download Indian Express App More Related News GDP boom to hit 4-12 months-low at 6.5%: Govt forecast India s GDP growth to slide under 7% this monetary say professionals Tags: Demonetisation GDP Niti Ayog Ramalingan NarayananJan 7 2018 at 7:19 amWithout knowing the information don t bark like a avenue fog.If you want to be a devoted canine be it.However don misguide us.Yiu are given the post not because if advantage however because of chsmchagiri.Simply revel in the perks and close up(zero)(0) Reply Ramasubramani HariharaiyerJan 7 2018 at 2:fifty one amThat became below the remarkable CONGRESS regime and any discount in welfare schemes became to count as a advantage again for the humans in electricity.So Mr Rajiv Kumar please don t confuse troubles and provide Credit to BJP .It is alternatively suicidal.(14)(1) Reply MIGHTY BOMBERJan 7 2018 at 2:08 amThere is a lot of difference between then and now. In those days primary bite of population turned into in authorities jobs which meant truth in life. Population has grown over the years and at present major bite of population is not in government jobs and consequently certainty has disappeared from majority of population s life. What changed into the charge of go back on Indira Vikas Patra Recurring deposits in days of ManMohan Singh ?These gadgets i.E. Indira Vikas Patra Recurring deposits and many others. Offer some stability to splendid Indian middle elegance. Present Bhartiya Janta Party authorities has shamelessly reduced hobby fee on National Savings Certificate Recurring deposits causing lots of strain in lives of center magnificence people. Whatever gift government says is economic reform is honestly withdrawal of presidency help that was given by means of previous governments or massive disruption like de-monetisation in ordinary activities.(17)(0) Reply Abraham KJan 7 2018 at 1:53 amThe difference is that after MMS added the reforms no matter what the GDP became the not unusual man did now not reel underneath the reforms.(15)(zero) ReplyRakesh BhargavaJan 7 2018 at 8:24 amWhen corruption is blocked all corrupt people suffer. Big industrialist we re looting India underneath MMS guidelines as soon as questioned now all are in NCLT this may truly reduce GDP. But now clean India will emerge.(0)(zero) Reply Ramesh Rao NeramballiJan 7 2018 at 1:08 amThese useless guys actually delve into the past and twist the data to justify their foolishness.If they could t deliver as promised just get out.(18)(2) Reply Load More Comments
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