10-cr LPG connections including 4-cr free to poor women given in 4 yrs, claims PM Modi

News Network
May 28, 2018

New Delhi, MAY 28: Prime Minister Narendra Modi on Monday said 10 crore LPG connections including 4 crore free to poor women, were given in last four years, compared to 13 crore in six decades since independence, as his government stepped up efforts to shield women and children from kitchen smoke.

Interacting through video-conference with some of the women beneficiaries who received free cooking gas connection under the Pradhan Mantri Ujjwala Yojana, Modi recounted his own childhood when his mother struggled with smoke emitting from cooking on firewood or cow dung, to say his government will increase coverage of clean fuel to 100 percent households in the near future.

"Till 2014, only 13 crore LPG connections were given. These were mostly to rich and affluent class. In the past four years, we have given 10 crore new LPG connections, mostly to poor," he said. "Ujjwala Yojana has strengthened the lives of the poor, marginalised, Dalits, tribal communities. This initiative is playing a central role in social empowerment."

Launched in May 2016, the scheme aims to provide in next three years as many as 5 crore free cooking gas connections to women from extremely poor households, aimed at reducing the use of polluting fuels such as wood and dried cow dung that, according to the World Health Organization, cause 1.3 million premature deaths in India every year.

The target was raised to 8 crore this year by adding two additional years.

India aims to increase liquefied petroleum gas (LPG) usage to cover 80 percent of its households by March 2019, against 72.8 percent in 2017. The Prime Minister did not give a date for achieving 100 percent coverage.

Modi said LPG is the cleanest and easily available source of energy that is giving women a healthier lifestyle, saving them time, helping them financially and saving the environment.

As many as 45 percent of the four crore free LPG connections given under Ujwalla are to Dalits, he said.

Stating that his government stood for empowerment of the Dalits, the Prime Minister said more than 1,200 petrol pumps have been given to Dalit families since 2014 as compared to 445 retail outlets given to such families during 2010-2014 period of the previous UPA regime.

Similarly, 1,300 families got LPG distributorship as compared to 900 in the previous years.

The government, he said, is very serious in eliminating middlemen and so the beneficiary list has been made transparent.

Apart from those included under socio-economic caste census (SECC) to avail the scheme, the extended Pradhan Mantri Ujjwala Yojana would now cover all SC/ST households, most backward classes, beneficiaries of Pradhan Mantri Awas Yojana (Gramin), Antyoday Anna Yojana, forest dwellers, people residing in river and river islands.

Modi said the government is targeting one lakh LPG Panchayats (peer learning platforms to support behaviour change in Ujjwala beneficiaries) this year to boost the LPG refill consumption and provide a window for the benefits of cleaner fuel to become visible.

Under the Pradhan Mantri Ujjwala Yojana, the government provides a subsidy of Rs 1,600 to state-owned fuel retailers for every free LPG gas connection that they install in poor rural households without one.

This subsidy is intended to cover the security fee for the cylinder and the fitting charges. The beneficiary has to buy her own cooking stove and refills.
To reduce the burden, the scheme allows beneficiaries to pay for the stove and the first refill in monthly instalments. However, the cost of all subsequent refills has to be borne by the beneficiary household.

He said 70 percent of the villages are 100 percent covered by LPG and 81 percent village are covered up to 75 percent.

In his interaction with women beneficiaries from different states, he asked them if they were getting LPG refills on time and if any middlemen were asking for money.
 
He asked them about their experience of using LPG and how it saved them time, which they can utilise for supporting the family financially by starting schemes like tiffin service.

He asked women to give healthy and nutritious food to their kids and not just rely on junk food.

Modi said he will never forget one of Premchand's stories, Idgah. "The story is about young Hamid, who does not buy sweets or gifts during Id but buys a 'Chimta' so that his grandmother does not burn her hands while cooking. This story is extremely emotional."

"Ujjwala Yojana is leading to better health for India's Nari Shakti," he said. 

Comments

Wellwisher
 - 
Monday, 28 May 2018

A new trend trying to fool the citizens. After a massive Rs 15lakhs controversy; 2 crores job;Note Bund, Aadhar card fraud  mr.modi statred to make publisity about his achievement. All the projects so far inagurated  by him are the program of previous Government he trying to tkae the credit and trying to divert the citizens mind from raising oil price to some other corner.

Wah this what his desh bhakt  move.

 

 

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News Network
March 6,2020

New Delhi, Mar 6: Shares of YES Bank and State Bank of India came under huge selling pressure on Friday as developments unfolded regarding SBI picking stake in the private lender. Shares of the lender hit record low of Rs 5.55, plunging 85 per cent, and were trading below its previous low of Rs 8.16 hit on March 9, 2009.

SBI, on the other hand, slumped 11 per cent to Rs 257.35 on the BSE. The benchmark S&P BSE Sensex was trading with a cut of over 3 per cent at 37,251.37 level.

In the past three months, share price of the private lender has plunged 41 per cent, while the state-owned lender has slipped 14 per cent. In comparison, the S&P BSE Sensex has dipped 5.6 per cent till Thursday.

On Thursday, the Reserve Bank of India superseded the board of troubled private sector lender YES Bank and imposed a 30-day moratorium on it “in the absence of a credible revival plan” amid a “serious deterioration” in its financial health.

During the moratorium, which came into effect from 6 pm on Thursday, YES Bank will not be allowed to grant or renew any loans, and “incur any liability”, except for payment towards employees’ salaries, rent, taxes and legal expenses, among others.

This is the first time that a bank of this size will be put under a moratorium by the RBI.

“The financial position of YES Bank had undergone a steady decline “largely due to inability of the bank to raise capital to address potential loan losses and resultant downgrades, triggering invocation of bond covenants by investors, and withdrawal of deposits,” RBI said in a statement.

“After the moratorium, the next step will be to infuse to money and keep the bank afloat. So from shareholders’ point of view, the future is certainly hazy as the capital requirement is huge. The good part, however, is that the RBI has stepped in and depositors don't have to worry,” says Siddharth Purohit, a research analyst at SMC Securities.

Meanwhile, analysts at Nomura believe that placing the Bank under moratorium implies that equity value in the bank would be negligible, and that the chances of private capital participating in future capital raising plan are near zero.

"Any resolution for Yes Bank is more proposed from the perspective of deposit holders and systemic stability, and not from the perspective of Yes Bank equity investors or even perpetual bond holders," they wrote in a note dated March 6.

In another development, SBI’s Board Thursday gave in-principle approval to consider an “investment opportunity” in YES Bank, even as it said “no decision had yet been taken to pick up stake in the bank”.

According to a  report, highly-placed sources indicated a rescue plan involving SBI and Life Insurance Corporation of India (LIC) was being discussed and an announcement in this regard might be made soon.

“While the finer details of the deal are being worked out, it is anticipated that both SBI and LIC together will take a 51 per cent stake in the bank, with a one-year lock-in period,” the report said.

Most analysts believe it is a positive step for the Indian financial sector as the government has tried to avoid a repeat of IL&FS-like crisis.

“The move is a positive step for the financial sector as a whole. By this, the government has tried to avoid a repeat of IL&FS-like crisis and has saved the depositors,” said AK Prabhakar, Head of Research at IDBI Capital. While we know that YES Bank has a huge pile of bad loans, SBI is the only bank that has the capacity to absorb it, he added.

However, the valuation at which YES bank would be taken over remains a cause of concern.

Global brokerage firm JP Morgan Thursday cut its target price for YES Bank on Thursday to Rs 1 per share, taking into account the potential fall in the lender’s net worth due to stressed assets.

“We believe forced bailout investors will likely want the bank to be acquired at near-zero value to account for risks associated with the stress book and likely loss of deposits. We think the bank will need to be recapitalised at nominal equity value and could test dilution of additional tier 1 (AT1) capital. We remain underweight and cut our target price to Rs 1 as we believe net worth is largely impaired,” JP Morgan said in a note.

Global brokerage firm Nomura estimates a need of Rs 25,000-44,000 crore and adjusted for Rs 7,400 crore of current coverage, if the current stress of Rs 65,000-70,000 crore faces 70 per cent loss given default (LGD).

"It implies Rs 18,000-37,000 crore needed for provisioning against the current net worth of Rs 25,700 crore Also, to run as going concern, the bank would require over Rs 20,000 crore of CET-1 capital as well," the note said.

YES Bank has registered slippages of Rs 12,000 crore so far in FY20, while it has placed Rs 30,000 crore of loan assets under the watch list. Its deposits stood at Rs 2.09 trillion on September 30, 2019, while its advances totalled Rs 2.24 trillion. The bank has delayed publishing its December quarter results by a month to March 14.

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News Network
May 18,2020

Muscat, May 18: An Air India special flight left for Hyderabad with a total of 182 stranded Indians from Oman on Monday.

"IX 818 departed for Hyderabad with total 182 passengers. We again express our gratitude to Omani & Indian authorities and wish all the passengers, safe journey home," Indian embassy in Oman said in a tweet.

Under the Vande Bharat Mission, Air India operated repatriation flight from Oman on Sunday to Kerala. It had brought back 183 Indians.

The phased evacuation is being done under the Centre's 'Vande Bharat' mission whose second phase started from May 16.

In order to facilitate the return of stranded Indian nationals in Oman, the Indian government has decided to operate more special flights to Bangalore, Calicut, Delhi, Kannur, Kochi, and Gaya on May 20, 21, 22 and 23.

Under the second phase, a total of 149 flights, including feeder flights, are expected to be operated to bring back stranded Indians from 40 countries.

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News Network
March 7,2020

New Delhi, Mar 7: No country in the world says everybody is welcome, External Affairs Minister S Jaishankar said on Saturday, hitting out at those criticising India over the Citizenship (Amendment) Act.

Jaishankar criticised the United Nations Human Rights Council (UNHRC) for its criticism on the situation in Jammu and Kashmir, saying its director had been wrong previously too and one should look at the UN body's past record on handling the Kashmir issue.

"We have tried to reduce the number of stateless people through this legislation. That should be appreciated," he said when asked about the CAA at the ET Global Business Summit. "We have done it in a way that we do not create a bigger problem for ourselves."

"Everybody, when they look at citizenship, have a context and has a criterion. Show me a country in the world which says everybody in the world is welcome. Nobody says that," the minister said.

The external affairs minister said moving out of the Regional Comprehensive Economic Partnership (RCEP) was in the interest of India's business.

Asked about the UNHRC director not agreeing with India on the Kashmir issue, Jaishankar said: "UNHRC director has been wrong before.

"UNHRC skirts around cross-border terrorism as if it has nothing to do with country next door. Please understand where they are coming from; look at UNHRC's record how they handled Kashmir issue in past," he added.

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