Tamil Nadu to ban use of plastic items from 2019

Agencies
June 5, 2018

Chennai, Jun 5: The Tamil Nadu government today announced banning use of plastic items, including non-biodegradable bags, from January 2019 in the interest of the environment and to "gift a plastic-free" state to future generations.

Chief Minister K Palaniswami's announcement in the state assembly coincided with International Environment Day today.

Late chief minister J Jayalalithaa had earlier constituted an expert panel on the issue that had suggested banning plastic products, including bags, plates and cups, and recommended that traditional items such as plantain leaves and plates made of palm leaves be used, Palaniswami said.

The chief minister said non-biodegradable plastic products, mainly polythene covers affect the environment, impeding water flow.

Its burning also causes problems, he said, adding that plastic products contributed to various forms of pollution-- air, land and water.

"Considering the damage caused by plastic, and to ensure this is not left behind for future generations, the Amma government has decided to ban non-biodegradable plastic covers, plates, cups, water packets, straws and bags," he said.

However, plastic sachets used to pack milk, curd and oil, besides those used to wrap medical products, will be exempted from the ban, Palaniswami said.

The ban is brought under an environmental protection act of 1986 and it would come into effect from January 1, 2019, so as to allow people to change over to using paper bags and other products made out of paper as substitutes to the plastic items facing ban, he said.

Palaniswami recalled that people's participation in the past for a rainwater harvesting scheme introduced by Jayalalithaa had resulted in success, as it had led to better groundwater resources.

"Similarly, with the cooperation and contribution of all, let us gift a plastic-free Tamil Nadu for the future generations of the state," he added.

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News Network
January 21,2020

Jan 21: Indian policymakers may make it easier for companies to tap foreign funding, as a prolonged cash squeeze makes it tough for firms to borrow at home.

Investors are speculating about potential steps Finance Minister Nirmala Sitharaman could unveil when she presents the nation’s budget on Feb. 1. These measures may include freeing up firms to borrow at higher rates and offering tax breaks to global funds.

“The government will need to relax local rules to make it easier for Indian companies to raise debt overseas and tide over the funding crunch in the onshore market,” said Raj Kothari, London-based head of trading at Jay Capital Ltd. “At the same time, they need to ensure that the borrowers tapping offshore markets abide with stricter corporate governance so as to avoid further defaults.”

A prolonged crisis in India’s shadow bank sector and a pile of bad loans at traditional lenders is making it expensive for Indian companies, other than the best-rated firms, to access funding. The government has tried a series of measures to spur domestic credit, including providing so-called credit enhancement and allowing tiny firms to restructure debt.

Here are some steps Sitharaman may consider to spur foreign borrowing:

• She could raise the cap of 450 basis points above Libor, which limits overall foreign debt costs for Indian companies

• This could help lower-rated firms sell bonds abroad. Indian companies rated BBB currently borrow at more than 10%, about 3.8 percentage points more than their top-rated peers;

• Sitharaman could waive the withholding tax foreign investors need to pay on holdings of rupee-denominated debt sold by Indian companies abroad

• The waiver was offered between September 2018 to March 2019, but wasn’t extended as the highest global interest rates since the financial crisis deterred Indian borrowers. Since then, the three-month Libor has dropped by about 1 percentage point

• She could permit Indian property developers and housing finance lenders to sell overseas bonds for reasons beyond affordable housing projects

• New funding lines to the real estate sector, arguably ground zero of India’s economic slowdown, could help kickstart consumption and investment as the industry is the nation’s biggest job-creator.

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News Network
May 30,2020

Coronavirus lockdown in India has been extended till June 30 with more relaxations.

While the lockdown has been extended in containment zones, relaxations outside containment zones include reopening of religious places for public  from June 8. 

Hotels, restaurants and shopping malls also to open from June 8. Decision on opening educational institutions to be taken in July.
 

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News Network
February 16,2020

New Delhi, Feb 16: Just an hour ahead of the swearing-in ceremony, Arvind Kejriwal invited the people of Delhi again for his oath-taking ceremony at Ramlila Maidan today.

Referring himself as "son of Delhi", the AAP convener today tweeted saying, "Delhiites, your son is going to take oath as Delhi chief minister for the third time. You must come to bless your son".

The AAP national convener will be sworn-in as the Chief Minister of Delhi for the third time in a row.

Arvind Kejriwal is scheduled to take oath along with other ministers at Ramlila Maidan.

On Saturday, Kejriwal, through a tweet, has said that autorickshaw drivers, students, teachers, doctors, labourers, etc will be the "chief guests".

The guest list put out by the AAP includes ''Delhi ke Nirmata''- people who contributed to the development of the city during the last five years.

These include Sumit Nagal, a Delhi government school student and an international Tennis player, Laxman Chaudhry an auto driver, Manu Gulati a teacher and "one of the many architects of Delhi Governance Model", Dalbir Singh a farmer, Ratan Jamshed Batliboi - the architect of the famous Signature Bridge among others.

By winning 62 seats by cashing in on the plank of development, his party nearly repeated its 2015 performance, sweeping the Assembly polls in the face of a high-voltage campaign by the BJP, which had fielded a battery of Union Ministers and Chief Ministers in its electioneering, spearheaded by Home Minister Amit Shah.

The BJP marginally improved its tally, managing just eight seats from its 2015''s tally of three seats. The Congress failed to open its account in the second successive election.

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