Oil cos to get Rs 25k cr extra cash subsidy

March 25, 2013

Veerappa_MoilyNew Delhi, Mar 25: The government will give additional cash subsidy of Rs 25,000 crore to state-owned oil marketing companies to make up for the losses suffered by them on selling fuel at subsidised rates. The amount is over and above finance ministry’s cash outgo of Rs 55,000 crore, this fiscal year.

Petroleum Secretary Vivek Rae said the additional cash is likely to be available next month.

Three state-owned oil companies – Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum—have projected revenue loss to the tune of Rs 1,61,343 crore in the current fiscal ending March 31, 2013 on sale of diesel and cooking gas.

Of this Rs 1,61,343 crore, a total of Rs 80,000 crore will be given by the finance ministry, while Rs 60,000 crore will be borne by upstream companies and the rest of Rs 21,000 crore will be carried forward in the next fiscal year.

Speaking at the National Editors' Conference, Petroleum Minister Veerappa Moily said the government is committed to making available essential fuels, particularly cooking fuels to the common man at affordable prices.

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January 1,2020

New Delhi, Jan 1: Prevention of Money Laundering Act (PMLA) court in Mumbai has allowed banks that lent money to embattled liquor tycoon Vijay Mallya to utilize seized assets, news agency reported today quoting sources from the Enforcement Directorate (ED). The court also said all parties affected by the order can appeal at the Bombay High Court till January 18.

Last month, a consortium of Indian banks petitioned a London court for ex-billionaire Vijay Mallya to be declared bankrupt over ₹9,000 crore in unpaid debts. It comes as Mallya, who founded the now defunct Kingfisher Airlines Ltd, faces extradition to his home country of India.

Mallya had fled India in March 2016 and has been living in the United Kingdom since then. The 64-year-old former Kingfisher Airlines is fighting extradition to India in relation of fraud and money laundering allegations arising out of the debt acquired from the banks.

Mallya remains on bail pending the UK High Court appeal hearing in the extradition proceedings brought by India in relation to fraud and money laundering charges amounting to ₹9,000 crores. He had been arrested on an extradition warrant back in April 2017 and has been fighting his extradition in the UK courts since then.

He was granted permission to appeal against his extradition order, which is scheduled in the Royal Courts of Justice in London for February.

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January 2,2020

United Nations, Jan 2: Nearly 400,000 babies were born around the world on New Year's Day with India recording the highest number of these births worldwide at 67,385, the UN children's agency said.

An estimated 392,078 babies were born around the world on New Year's Day, according to UNICEF. Of this, an estimated 67,385 babies were born in India, the most globally. China comes in second with 46,299 births.

The beginning of a new year and a new decade is an opportunity to reflect on our hopes and aspirations not only for our future, but the future of those who will come after us,” UNICEF Executive Director Henrietta Fore said.

As the calendar flips each January, we are reminded of all the possibility and potential of each child embarking on her or his life's journey—if they are just given that chance.”

Fiji in the Pacific most likely delivered 2020's first baby, while the US, the last of the New Year's Day. Globally, over half of these births were estimated to have taken place in eight countries - India (67,385), China (46,299), Nigeria (26,039), Pakistan (16,787), Indonesia (13,020), United States of America (10,452), Democratic Republic of Congo (10,247) and Ethiopia (8,493).

Each January, UNICEF celebrates babies born on New Year's Day, an auspicious day for child birth around the world, it said. However, for millions of newborns around the world, the day of their birth is far less auspicious.

In 2018, 2.5 million newborns died in just their first month of life; about a third of them on the first day of life. Among those children, most died from preventable causes such as premature birth, complications during delivery, and infections like sepsis. In addition, more than 2.5 million babies are born dead each year.

UNICEF said over the past three decades, the world has seen remarkable progress in child survival, cutting the number of children worldwide who die before their fifth birthday by more than half. But there has been slower progress for newborns. Babies dying in the first month accounted for 47 per cent of all deaths among children under five in 2018, up from 40 per cent in 1990.

UNICEF's Every Child Alive campaign calls for immediate investment in health workers with the right training, who are equipped with the right medicines to ensure every mother and newborn is cared for by a safe pair of hands to prevent and treat complications during pregnancy, delivery and birth.

Too many mothers and newborns are not being cared for by a trained and equipped midwife or nurse, and the results are devastating,” said Fore. “We can ensure that millions of babies survive their first day and live into this decade and beyond if every one of them is born into a safe pair of hands.”

India is projected to surpass China as the world's most populous country around 2027. According to UN estimates, India is expected to add nearly 273 million people between 2019 and 2050, while the population of Nigeria is projected to grow by 200 million. Together, these two countries could account for 23 per cent of the global population increase to 2050.

China, with 1.43 billion people in 2019, and India, with 1.37 billion, have long been the two most populous countries of the world, comprising 19 and 18 per cent, respectively, of the global total in 2019. Through the end of the century, India is estimated to remain the world's most populous country with nearly 1.5 billion inhabitants, followed by China with just under 1.1 billion, Nigeria with 733 million, the US with 434 million, and Pakistan with 403 million inhabitants.

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January 12,2020

Kolkata, Jan 12: Prime Minister Narendra Modi on Sunday announced that Kolkata Port Trust will be renamed as Syama Prasad Mukherjee Port.

Addressing the gathering at the inauguration of 150th anniversary celebrations of Kolkata Port Trust, he said: "I announce the renaming of the Kolkata Port Trust to Dr Shyama Prasad Mukherjee Port. He is a living legend who was a leader for development and fought on the forefront for the idea of One Nation, One Constitution."

"This port represents industrial, spiritual and self-sufficiency aspirations of India. Today, when the port is celebrating its 150th anniversary, it is our responsibility to make it a powerful symbol of New India," Modi said.

The Prime Minister said that the Bharatiya Jana Sangh founder had set the stone for industrialization in India. "Chittaranjan Locomotive Factory, Hindustan Aircraft Factory, Damodar Valley Corporation and several others saw active participation from him," he said.

The Prime Minister also felicitated the two oldest pensioners of the Kolkata Port Trust, Nagina Bhagat and Naresh Chandra Chakraborty.

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