After GMR, Indian carmakers in deep waters in Sri Lanka

December 12, 2012

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New Delhi, Dec 12: After the Maldives, India’s economic interests are in deep waters in another neighbouring island nation, Sri Lanka.

 

Notwithstanding the setback in its efforts to help the GMR Group in the Maldives, New Delhi has now taken up the cudgels for Indian carmakers and urged Colombo to roll back the recent steep hikes in import duty on automobiles.

 

“The Indian High Commission in Colombo has taken up the matter with the Sri Lankan government. The issue will be discussed again when the Finance Secretary of Sri Lanka would travel to India,” said Syed Akbaruddin, Spokesperson of the Ministry of External Affairs (MEA), on Tuesday. Sri Lankan finance secretary Dr P B Jayasundera is set to visit India shortly.

 

The Sri Lankan government recently raised excise duty on imported utility vehicles from 100 per cent to 173 per cent. Duty on cars with less than 1000 cc engines was also raised from 120 per cent to 200 per cent, including a 47 per cent hike in excise duty.

 

The excise duty on both three-wheelers and two-wheelers were raised from 45 per cent and 61 per cent respectively to 100 per cent. Besides, an absolute levy of $ 845.95 was imposed on all commercial vehicles, in addition to an 12 per cent excise duty. Indian carmakers would be hit hard by the steep hike as the island nation is the largest export market, accounting to nearly 13 per cent of the total automobile export.

 

The Ministry of Commerce is understood to have sought the help of the MEA to take up the issue diplomatically with the Sri Lankan government.

 

Rajiv Kher, additional secretary in the Ministry of Commerce, on Monday said that New Delhi was concerned over the “very substantial rise in import tariff” by Sri Lank as the island nation on the Indian Ocean was a “very important market” for cars and commercial vehicles manufactured in India.

 

Lately, New Delhi has reacted very strongly to the Maldivian government’s decision to terminate its agreement with a consortium led by Indian infrastructure giant GMR Group to manage the international airport in an island close to the archipelagic nation’s capital Male. New Delhi warned Maldives about the repercussions their move could have on bilateral ties.

 

But a judgment of the Court of Appeal of Singapore on December 6 ruled that the Maldivian government could take control of the airport from the GMR Male International Airport Limited or GMIAL, a joint venture of GMR Infrastructure and Malaysia Airports Holding Berhad.

 

The judgment came as a setback for the GMR Group that had earlier got an injunctive relief from the High Court of Singapore against the applicability and operations of the notice the Maldivian government had served the company on November 27 seeking to take back the control of the airport. India subtly toned down its rhetoric on Maldives move against GMIAL after the judgment.

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News Network
July 12,2020

New Delhi, Jul 12: With the highest single-day spike of 28,637 new cases and 551 deaths being reported in the last 24 hours, India's COVID-19 count reached 8,49,553 on Sunday.

According to the Union Health and Family Welfare Ministry, this includes 2,92,258 active cases, and 5,34,621 cured and discharged or migrated patients. The toll due to the disease has reached 22,674 in the country.

Maharashtra with 2,46,600 cases continues to be the worst affected state by COVID-19 in the country. The state has 99,499 active cases while 1,36,985 patients have been cured and discharged so far. The death toll due to the disease now stands at 10,116.

Tamil Nadu with 1,34,226 cases, including 46,413 active ones, is the next worst affected in the country. While the number of cured and discharged patients is at 85,915 in the state, the toll due to the disease is at 1,898.

The national capital has recorded 1,10,921 confirmed cases so far. However, the number of active cases in Delhi is at 19,895 and 87,692 patients have been cured and discharged so far. With 3,334 deaths being reported due to COVID-19 in the city. 

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News Network
June 13,2020

New Delhi, Jun 13: About 56 per cent of children were found to have no access to smartphones which have emerged as essential tools for online learning during the coronavirus-induced lockdown, according to a new study that surveyed 42,831 students at various school levels.

The study ''Scenario amidst COVID 19 - Onground Situations and Possible Solutions'' was conducted by child rights NGO Smile Foundation with an aim of analysing the access to technology.

The findings of the study showed that 43.99 per cent of surveyed children have access to smartphones and another 43.99 per cent of students have access to basic phones while 12.02 per cent do not have access to either smartphones or basic phones.

A total of 56.01 per cent children were found to have no access to smartphones, the study said.

"Concerning television, it was noted that while 68.99 per cent have access to TV, a major chunk of 31.01 per cent does not. Hence suggesting that using smartphone interventions for enhancing learning outcomes is not the only solution," it said.

At the primary level of education (class 1 to 5) 19,576 children were surveyed while at upper primary level (class 6 to 8) 12,277 children were surveyed. At secondary level of education (class 9 to 10) 5,537 children were surveyed and at higher secondary level (class 11 to 12) 3,216 children were surveyed.

The survey based on which the study was conducted used two approaches - over the telephone wherein the NGO reached out to the children whose database it already had -- students enrolled in various education centres of the NGO -- and second was through community mobilization wherein community workers went door to door to get answers.

The survey was conducted in 23 states, including Delhi, Gujarat, Maharashtra, Karnataka, Tamil Nadu, West Bengal, Andhra Pradesh, Telangana, Uttar Pradesh, Haryana, over a period of 12 days from April 16 to April 28.

The lockdown induced by the COVID-19 pandemic in March prompted schools and colleges to move to the virtual world for teaching and learning activities. However, many experts say the digital divide in the country may turn online classes into an operational nightmare.

As per official statistics, there are over 35 crore students in the country. However, it is not clear as to how many of them have access to digital devices and Internet.

Santanu Mishra, co-founder and executive trustee, Smile Foundation, said the findings clearly show that the digital divide is a real challenge, and multiple approaches need to be implemented to cater to all across the nation.

"As an exercise before we start any programme, we do a baseline study to understand the on-ground challenges so that our programmes can bring in real work and real change. With the onset of the pandemic, following indefinite school closures, it is more important than ever to understand the situation and how can we ensure that children are given quality education. Through this, we understand that customized modules need to be built in accordance with the channel of communication," he said.  

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Agencies
January 15,2020

Mumbai, Jan 15: Michael Debabrata Patra took over as Deputy Governor of the Reserve Bank of India (RBI) on Wednesday.

He was an Executive Director of India's central bank before being elevated to the post of Deputy Governor.

An RBI release said that as Deputy Governor, Patra will look after Monetary Policy Department including Forecasting and Modelling Unit (MPD/MU), Financial Markets Operations Department (FMOD), Financial Markets Regulation Department.

He will also look after Market Intelligence (FMRD/MI), International Department (Intl. D), Department of Economic and Policy Research (DEPR), Department of Statistics and Information Management (including Data and Information Management Unit) (DSIM/DIMU), Corporate Strategy and Budget Department (CSBD) and Financial Stability Unit.

Patra, a career central banker since 1985, has worked in various positions in the Reserve Bank of India.

As Executive Director, he was a member of the Monetary Policy Committee (MPC) of RBI, which is invested with the responsibility of monetary policy decision making in India. He will continue to be an ex-officio member of the MPC as Deputy Governor.

Prior to this, he was Principal Adviser of the Monetary Policy Department, Reserve Bank of India between July 2012 and October 2014.

He has worked in the International Monetary Fund (IMF) as Senior Adviser to Executive Director (India) during December 2008 to June 2012, when he actively engaged in the work of the IMF's Executive Board through the period of the global financial crisis and the ongoing Euro area sovereign debt crisis.

The release said that his book "The Global Economic Crisis through an Indian Looking Glass" vividly captures this experience.

He has also published papers in the areas of inflation, monetary policy, international trade and finance, including exchange rates and the balance of payments.

A fellow of the Harvard University where he undertook post-doctoral research in the area of financial stability, he has a PhD in Economics from the Indian Institute of Technology, Mumbai.

He will hold the post for three years or until further orders. The post fell vacant after Viral Acharya resigned on July 23 last year.

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