China pushes India to the wall on Brahmaputra

August 8, 2015

New Delhi, Aug 8: On July 30, the usually combative Uma Bharti, the union minister for water resources, exhibited a diffident demeanor in the Lok Sabha when she gave out that China may construct three more hydropower projects on the Brahmaputra in Tibet (called Yarlung Tsangpo there) under its recently announced 12th Five Year Plan.

UmaBhartiThe minister added two other important facts. First, she indicated that an earlier such power project at Zangmu, other than the proposed three, is a run-of-the-river type. Secondly their effects and significance cannot be judged at the moment due to non-availability of data.

The minister's statement, instead of clearing the air of confusion and apprehension, is however likely to cause more doubts. There is an existing agreement between India and China which covers exchange of hydrological data between the two countries on the Brahmaputra. Has this agreement fallen into disuse? Secondly, the said projects being run-of-the-river type does not hold out any assurance because even these types of projects entail creation of storage dams.

The aforementioned hydro power projects will be located at Dagu, Jiexu and Jiacha, all in the middle reaches of the Brahmaputra. Another one at a place called Zangmu, whose existence was long denied by China but ultimately conceded in 2010 after repeated Indian protestations, has already been partly commissioned. In spite of Uma Bharti's apparent calm and nonchalance in the Lok Sabha, doubt persists in New Delhi's corridors of power. During the time of the previous UPA government it was decided that the ministries of defence, external affairs and the department of space would take up the matter jointly with China. Was it really done? An answer is necessary.

Ominous warnings are close at hand. On March 1, 2012, the river Siang (the local name of the Brahmaputra in Arunachal Pradesh) had run completely dry at a place called Pasighat where it normally used to be very wide. Although the river picked up momentum later on, it has not yet attained its former virility.

Moreover, all the four hydro projects will be situated very close to each other and this complicates the matter further as large amounts of water will be stored within a narrow geographical expanse leading to the possibility of depriving northeastern India of not only water but also the much-needed silt which makes the Assam plains fertile. There may also be floods in the region if China decides to arbitrarily release water from these dams during the monsoon.

How many hydroelectric dams has China been constructing in Tibet? There is a great divergence of opinion on the matter. Some say the number adds up to more than 100. However Jana Jagriti, an Assam based NGO, thinks that 26 are coming up. According to its estimate, Assam will get 64 percent less water during the monsoon season and 85 percent less water during in the rest of the year due to China's dam building activities.

But the real cause of concern for India is the widespread report that China would construct a giant hydro power project at a place called Medog which is very near the Great Bend, a great U turn which the mighty Brahmaputra takes before entering India after a 2,000-metre fall. It is slated to generate 38-49 gigawatts of electricity, which is more than India's installed hydro capacity of 33 gigawatts. If it materializes, the dam will be twice as big as the Three Gorges Dam on the Yangtze river. That China is serious about the Medog plant is borne out by the development and upgradation of the Bome-Medog highway, a kind of infrastructural development which generally precedes beginning of such projects. There are reports that China has constructed two huge water reservoirs at the Great Bend area with storage capacities of 42 million and 31 million cubic metres.

All these projects are situated in an earthquake-prone area and very close to the geological fault line where the Indian Plate collides with the Eurasian Plate. According to many experts, the massive earthquake in 2008 breaching parts of the Three Gorges Dam was caused by the stupendous weight of water of the nearby Zipingpu Dam which was just half-a-kilometre from the geological fault line. If such a catastrophe occurs again, vast areas of Assam and Arunachal Pradesh will go under water.

The crux of the problem is that there is no water sharing treaty between India and China covering trans-national rivers and using the international law that existing usage of water will determine respective shares of countries, Beijing has pushed New Delhi to the wall. India has only itself to blame.

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News Network
March 27,2020

Mumbai, Mar 27: The Reserve Bank of India (RBI) on Friday lowered the key repo rate by 75 basis points to 4.4 per cent in a bid to arrest the economic slowdown amid coronavirus (COVID-19) outbreak.
The reverse repo rate now stands at 4 per cent, down by 90 basis points, said RBI Governor Shaktikanta Das adding this has been done to make it unattractive for banks to passively deposit funds with the central bank and instead lend it to the productive sectors.
The six-member monetary policy committee (MPC) met on March 24, 25 and 27 and voted 4:2 in favour of the repo rate reduction. The MPC also decided to continue with the accommodative stance as long as it is necessary to revive growth and mitigate the impact of COVID-19 on the economy while ensuring that inflation remains within the target.
"The need of the hour is to shield the economy from the pandemic," said Das. "We need to mitigate the impact of coronavirus, revive economic growth and provide financial stability."
Repo rate is the rate at which a country's central bank lends money to commercial banks, and the reverse repo rate is the rate at which it borrows from them.
The RBI Governor further said that the economic growth and inflation projection will be highly contingent depending on the duration, spread and intensity of the pandemic.
"Global economic activity has come to a near standstill as COVID-19 related lockdowns and social distancing are imposed across a widening swathe of affected countries. Expectations of a shallow recovery in 2020 from 2019's decade low in global growth have been dashed," said Das.
"The outlook is now heavily contingent upon the intensity, spread and duration of the pandemic. There is a rising probability that large parts of the global economy will slip into recession," he said.
However, the RBI has injected liquidity of Rs 2.8 lakh crore via various instruments equal to 1.4 per cent of GDP. "Along with today's measures, liquidity measures equal to 3.2 per cent of GDP. The RBI will take continuous measures to ensure liquidity in the system."
The RBI governor has said that all banking institutions can offer a three-month moratorium on all loans for a period of three months. The RBI has also allowed banks to restructure the working capital cycle for companies without worrying that these will have to be classified as a non-performing asset (NPA).
The three-month moratorium will permit banks to avoid a large onset of NPAs during the 21-day lockdown and keep their books healthy.
Das said banks and other financial institutions should do all they can to keep credit flowing to economic agents facing financial stress on account of the isolation that the virus has imposed.
"Market participants should work with regulators like the RBI and the Securities and Exchange Board of India (SEBI) to ensure the orderly functioning of markets in their role of price discovery and financial intermediation," he said.

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News Network
June 1,2020

New Delhi, Jun 1: India's COVID-19 tally on Monday witnessed its highest-ever spike of 8,392 cases, while 230 more deaths related to the infection were also reported in the last 24 hours, according to the Union Ministry of Health and Family Welfare (MoHFW).

The total number of coronavirus cases in the country now stands at 1,90,535 including 93,322 active cases, 91,819 cured/discharged/migrated and 5,394 deaths.

COVID-19 cases in Maharashtra continue to soar with the number reaching 67,655. Tamil Nadu's coronavirus count stands at 22,333 while cases in Delhi the number has reached 19,844

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Agencies
August 5,2020

Mumbai, Aug 5: A day after the Bihar government requested for a Central Bureau of Investigation (CBI) probe into the death of Sushant Singh Rajput, the Centre has accepted the state’s request. 

The CBI, which falls under the Union Home Ministry, will now take over the probe. Solicitor General Tushar Mehta on Wednesday stated in the apex court that the Centre has accepted the request floated by the Nitish Kumar government recommending a CBI inquiry.

A bench of Justice Hrishikesh Roy observed that truth behind the 34-year-old Rajput's death should come out. "Truth should come out so far as actor's death is concerned," the SC bench said as reported by news agency.

Meanwhile, the Supreme Court is also hearing a petition filed by model-actress Rhea Chakraborty who was in a relationship with the deceased actor. In her plea, she sought the transfer of an FIR lodged in Patna by Rajput's father, K K Singh, who had accused her of abetting his suicide.

The 34-year-old actor was found hanging from the ceiling of his apartment in suburban Bandra in Mumbai on June 14.

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