Work unitedly to realise Abdul Kalam’s dream of developed India: Modi

Agencies
July 27, 2017

Rameswaram, Jul 27: Prime Minister Narendra Modi on Thursday urged the people to work together to fulfil former president A P J Abdul Kalam’s dream of seeing a developed India by 2022 when it celebrates its 75th Independence Day. “There are 125 crore people and if each one takes one step, then the country would be 125 crore steps ahead,” he told a public meeting near this island, the home town of the late ‘Missile Man’, after inaugurating his national memorial.narendra

Various schemes launched by central government whether it was “Stand up India or Start up India, ‘Amrut’ cities or smart cities or Clean India projects would go a long way in realising Kalam’s dream of “developed India”, he said. In a reference to epic ‘Ramayana’, Modi said even a small squirrel had helped Lord Ram in constructing the ‘Ramasethu’ (bridge) for him to cross over to Sri Lanka.

“If people are committed like that squirrel, the country can scale great heights,” Modi said addressing a gathering at Mandapam, about 15 kms from Rameswaram. He urged the youth and pilgrims visiting this holy town to include a visit to Kalam’s memorial, designed and built by the Defence Research and Development Organisation (DRDO) with which the former president was associated with for a long time.

Modi heaped praise on labourers involved in the construction of the memorial, saying they had not charged for the extra two hours they had put in every day. After sweating it out from 8 AM to 5 PM, they would later take a break for one hour and put in two additional man hours. They had refused payment for these extra two hours, saying it was their way of contributing towards the memory of Kalam, Modi said, adding this deserved a standing ovation.

The audience was immediately on its feet applauding the the labourers, architects and workers who had toiled in raising the structure. Paying rich tributes to Kalam, whose second death anniversary was observed, Modi said the former president continues to inspire crores of countrymen. “People from every corner of the country come here (mostly on pilgrimage). I urge them, the tour operators and youth — whenever you come here, add to your programme a visit to this memorial,” Modi said.

The Prime Minister pointed out that Kalam loved the youths and the students very much, and it was for their benefit that Stand Up and Start Up schemes had been launched. The Mudra bank loan scheme had been launched to provide loans for the youths without any guarantee and it had benefited over eight crore people, including one crore from Tamil Nadu, he said.
A new India and a new Tamil Nadu could be developed with the cooperation of the central and state governments, he said. Ten cities in the state had been chosen for the smart city project and 33 towns for development under the AMRUT (Atal Mission for Rejuvenation and Urban Transformation) scheme, he said.
The central government had allocated Rs.900 crore for the Smart City and Rs.4,700 crore for the AMRUT scheme, he said the latter would ensure availability of better power, water, sanitation and other essential infrastructure. The Prime Minister hoped that the ‘Sagar Mala’ scheme, linking the coastal areas spreading through the country’s 7,500 km coastal line, would bring more investments and benefit people in a big way.

Announcing the launch of deep sea fishing to Rameswaram fishermen under hte Blue Revolution scheme, for which Rs 1,500 crore had been allocated, he said it would help fishermen to get better revenue and at the same time overcome problems relating to the fishing in the Palk Strait. The Prime Minister also flagged off a weekly train to Ayodhya in Uttar Pradesh from Rameswaram.

In order to help the people worship at Ramar Sethu, the mythical bridge believed to have been built by Lord Rama, the Rameswaram-Dhanushkodi road which was destroyed in the devastating cyclone decades ago had been rebuilt. Modi also unveiled synopsis of Green Rameswaram scheme, a pet project of late Kalam, presented by the local Vivekananda Kendra.

He recalled that it was in Rameswaram that Swami Vivekananda placed his first step when he returned from America in 1897. Earlier, after inaugurating the memorial, Modi paid floral tributes to Kalam at his ‘samadhi’. Evincing keen interest in the features of the memorial, which has on display replicas of rockets and missiles on which the late scientist had worked, the Prime Minister viewed it for about 15 minutes.

It has been built at a cost of Rs 15 crore on land alloted by the Tamil Nadu government at Kalam’s village Peikarambu. On the occasion, the Prime Minister also unveiled a wooden statue of Kalam playing the ‘veena’. The former president was adept at playing the musical instrument. The memorial also has about 900 paintings and 200 rare photographs of the late scientist, who held the office of the president from 2002 to 2007.

Modi was accompanied by Tamil Nadu Governor Ch Vidyasagar Rao, Chief Minister K Palaniswami, Union ministers Pon Radhakrishnan, Nirmala Sitharaman and NDA’s vice presidential nominee M Venakaiah Naidu. The prime minister earlier unfurled the national flag at the entrance of the memorial. Later, he interacted with family members of Kalam.

Modi was seen affectionately holding the hands of Kalam’s elder brother A P J Mohamed Muthumeeran Maraikaya.

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Raj
 - 
Friday, 28 Jul 2017

Congrats Sir. May you achieve many more feats in your career. Good luck

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News Network
March 16,2020

Mar 16: A fourth batch of 53 Indians returned to India from Iran on Monday, taking the total number of people evacuated from the coronavirus-hit country to 389.

This comes a day after over 230 Indians were brought back from Iran to New Delhi and quarantined at the Indian Army Wellness Centre in Jaisalmer, the third batch to be evacuated from that country.

"Fourth batch of 53 Indians - 52 students and a teacher - has arrived from Tehran and Shiraz, Iran. With this, a total of 389 Indians have returned to India from Iran. Thank the efforts of the team @India_in_Iran and Iranian authorities," Jaishankar tweeted.

The Indians came in a Mahan Air flight that landed at the Delhi airport at around 3 am, officials said, adding that they were later taken to Jaisalmer in an Air India flight for being quarantined.

The first batch of 58 Indian pilgrims were brought back from Iran last Tuesday and the second group of 44 Indian pilgrim arrived from there on Friday.

Iran is one of the worst-affected countries by the coronavirus outbreak and the government has been working to bring back Indians stranded there. Over 700 people have died from the disease in Iran and nearly 14,000 cases have been detected.

Jaishankar had told Rajya Sabha last week that the government was focusing on evacuating Indians stranded in Iran and Italy as these countries are facing an "extreme situation".

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News Network
July 26,2020

New Delhi, Jul 26: India reported a spike of 48,661 coronavirus cases in the last 24 hours, said the Union Ministry of Health and Family Welfare on Sunday.

The total COVID-19 positive cases stand at 13,85,522, including 4,67,882 active cases, 8,85,577 cured/discharged/migrated, it added.
With 705 deaths in the last 24 hours, the cumulative toll reached 32,063.

Maharashtra has reported 3,66,368 coronavirus cases, the highest among states and Union Territories in the country.

A total of 2,06,737 cases have been reported from Tamil Nadu till now, while Delhi has recorded a total of 1,29,531 coronavirus cases.

According to the Indian Council of Medical Research (ICMR), 4,42,263 samples were tested for coronavirus on Saturday and overall 1,62,91,331 samples have been tested so far.

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News Network
April 21,2020

New Delhi, Apr 21: The historic rout in oil markets that sent US crude prices plummeting to as much as minus USD 40 a barrel is unlikely to translate into any big reduction in petrol and diesel prices in India as domestic pricing is based on different benchmark, and refineries are already filled up to brim and cannot buy US crude just yet.

With storage capacity already overflowing amid coronavirus-induced demand collapse, traders rushed to to get rid of unwanted stocks triggering the collapse of US West Texas Intermediate (WTI) crude for May delivery.

Indian Oil Corp (IOC) Chairman Sanjiv Singh said the collapse was triggered by traders unable to take deliveries of crude they had previously booked because of a demand collapse. And so they paid the seller to keep oil in their storage.

"If you look at June futures, it is trading in positive territory... around USD 20 per barrel," he said.

Low oil prices may seem good in short-term but in the long run it will hurt the oil economy as producers will have no surplus to invest in exploration and production which will lead to a drop in production, he said.

He did not comment on retail fuel prices that have been static since March 16.

Oil companies have not changed rates despite a fall in international prices as they first adjusted them against the increase that was warranted from a Rs 3 per litre hike in excise duty and close to Re 1 per litre additional cost of switching over to cleaner BS-VI grade fuel from April 1.

Petrol in Delhi is priced at Rs 69.59 a litre and diesel comes for Rs 62.29 per litre.

"The negative price has no direct impact on India or Indian oil prices, as this has taken place due to crude oil produced and traded within the US. India's prices are driven partly by another benchmark, the Brent, which is still trading at USD 25/barrel. Therefore, the retail price of fuels in India are unlikely to fall," said Amit Bhandari, Fellow, Energy and Environment Studies, Gateway House.

Also, Indian refineries are already overflowing as fuel demand has evaporated due to the unprecedented nationwide lockdown imposed to curb spread of COVID-19. So, they can't rush to buy US crude.

The refineries have already cut operating rate to half because the fuel they produce has not been sold yet.

India imports 4 million barrels/day (1.4 billion barrels/year) of oil. The country has been benefitting from the falling prices of oil for the last five years, when oil dropped from a peak of USD 110/barrel to USD 50-60/barrel last year, enabling India to invest in public service programmes.

"However, the additional USD 30 fall of this week is good for India - but there is also a downside. If oil prices are too low, the economies of oil-rich gulf countries will be hurt, threatening the job prospects of the 8 million Indians working in the Gulf countries. India is the largest recipient of foreign remittances due to these workers – very low oil prices will hurt this cash stream," Bhandari said.

He said the negative price of oil shows how much oil oversupply exists in international markets today. "Global oil consumption has fallen due to the COVID-19 pandemic that traders are willing to pay customers to get rid of the barrels they can't store. The world does not have enough storage capacity, and dumping the oil is an environmental crime."

The first half of April saw Brent crude oil prices plummet 63.6 per cent to USD 26.9 per barrel. Prices of Western Texas Intermediate (WTI), the American oil, had also fallen similarly by 63.1 per cent.

But on April 20, WTI prices turned rapidly negative because traders on the Nymex exchange rushed to offload their May futures positions a day before expiry of contracts (on April 21).

Such WTI futures are traded on the Nymex exchange with contracts settled in physical crude oil. Problem is, those who had gone long are unable to find storage facilities for the oil and had to liquidate their contracts before expiry. This caused the plunge in WTI prices.

Contrast to this, June WTI Nymex futures prices is hovering around USD 21, while Brent for June delivery is at USD 25.

Miren Lodha, Director, CRISIL Research said the demand for crude oil was declining already because of economic slowdown when the COVID-19 pandemic-driven lockdowns crushed it further.

Consequently, oil demand is expected to contract by 8-10 million barrels per day (mbpd) in 2020 assuming demand recovery begins from the third quarter of the year, he said, adding if recovery doesn't happen by then, further demand destruction could occur.

On the supply side, producers reining in output following a strategic deal between OPEC members, Russia and the US.

Under this agreement, OPEC+ would reduce oil production by 9.7 mbpd for May and June, but gradually ease the curb to 7.7 mbpd between July and December 2020, and to 5.8 mbpd till April 2022 to stabilise prices.

"This is expected to reduce some surplus in the market by the end of 2020," Lodha said.

Crude oil demand is expected to decline by over 20 mbpd in April alone. Typically, monthly global demand is about 100 mbpd. Given this scenario, supply curbs would have limited influence.

Consequently, Brent oil prices is expected to be in the USD 25-30 range for the second quarter while increasing marginally in the last 2 quarters of 2020.

"The gigantic inventory build-ups and lack of storage facilities would also put pressure on prices," he said, adding overall Brent could average USD 30-35 in 2020, with a strong downward bias.

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