Policy to scrap 15 yrs old vehicles almost finalised: Gadkari

Agencies
February 16, 2018

New Delhi, Feb 15: India will soon come out with a policy to scrap vehicles that are more than 15 years old, Union Minister Nitin Gadkari said today.

The policy aims at curbing rising vehicular pollution in the country.

"We have almost finalised the scrapping policy for vehicles with NITI Aayog," the road and transport minister said.

Vehicles completing 15 years or more would be scrapped, the minister said without giving more details.

Gadkari said India is bound to become the hub for automobile industry and the prices were bound to be cheaper as scrap could be used for production of autoparts among other things.

"Raw material for vehicles will be cheap ... plastic, rubber, aluminium and copper - all generated from scrap will be used for autopart generation besides other things," the minister said.

Earlier, the Road, Transport and Highways Ministry had sent a concept note on Voluntary Vehicle Fleet Modernisation Programme (V-VMP) to the Committee of Secretaries on creating an ecosystem for voluntary scrapping and replacement of old polluting vehicles.

The V-VMP policy proposes to take 28 million decade-old vehicles off the

Gadkari had earlier said that the PMO is keen on the proposal and once it is implemented, pollution would be checked considerably as 65 per cent of the pollution is caused by heavy vehicles that are more than 15 years old.

As per an earlier proposal, a relief of about Rs 5 lakh was to be provided to people who purchase new commercial vehicle of about Rs 15 lakh, if they surrender their over 15-year old commercial vehicles.

Gadkari has said that once the proposal is accepted it is bound to result in Rs 10,000 crore boost in tax revenue as the automobile sector will benefit from it.

The draft Voluntary Vehicle Fleet Modernisation Programme (V-VMP) policy has proposed to bring under its purview vehicles bought on or before March 31, 2005, numbering about 28 million.

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News Network
February 1,2020

New Delhi, Feb 1: Air India's jumbo B747 plane, evacuating 324 Indian nationals from the novel coronavirus-hit Wuhan in China, landed here on Saturday morning, officials said.

The plane reached Delhi around 7.30 am, they said.

There were five doctors from Ram Manohar Lohia (RML) Hospital and one paramedical staff on board, said an Air India spokesperson.

The Indian Army has set up a quarantine facility in Manesar near Delhi to keep those evacuated from China's Hubei province.

Officials said they would be monitored for any signs of infection for a duration of two weeks by a qualified team of doctors and staff members.

"With 324 passengers, special flight has taken off for India from Wuhan. It may reach Delhi at 7.30am," said the Air India spokesperson at 1.19 am on Saturday.

The flight had departed from Delhi airport at 1.17 pm on Friday to evacuate Indian nationals from China, where more than 250 people - none of them Indian - have died due to novel coronavirus.

On Friday evening, the Air India spokesperson had stated that another special flight may take off from Delhi airport on Saturday to evacuate Indians from Wuhan.

The death toll from the novel coronavirus outbreak in China has risen to 259 with total confirmed cases surging to 11,791 amid stepped up efforts by a number of countries to evacuate their nationals from Hubei province, the epicentre of the virus, officials said on Saturday.

About Friday's flight, the spokesperson had said earlier during the day, "A team of five doctors from RML hospital, one paramedical staff from Air India, with prescribed medicines from doctors, masks, overcoats, packed food are in the aircraft. A team of engineers, security personnel are also there in this special aircraft. Whole rescue mission is being led by Captain Amitabh Singh, Director (Operations), Air India."

The spokesperson had added that there were five cockpit crew members and 15 cabin crew members on Friday's flight.

Before departure at Delhi airport, Air India Chairman and Managing Director Ashwani Lohani had said, "No service will take place in the plane. Whatever food is there will be kept in seat pockets. As there will be no service, there will be no interaction (between cabin crew and passengers)."

"Masks have been arranged for the crew and passengers. For our crew, we have also arranged a complete protective gear," he had added.

"Total five doctors from the Health Ministry are also going... The plane will be there (at Wuhan airport) for 2-3 hours," Lohani had said.

Air India has done such evacuations earlier also from countries such as Libya, Iraq, Yemen, Kuwait and Nepal.

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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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Agencies
August 3,2020

New Delhi, Aug 3: President Ram Nath Kovind and Prime Minister Narendra Modi on Monday extended warm greetings and good wishes to the countrymen on the occasion of Rakshabandhan.

The President in his message said, "Greetings on Raksha Bandhan! Rakhi is the sacred thread of love and trust that connects sisters with brothers in a special bond. On this day, let us reiterate our commitment to secure the honour and dignity of women."

"Many wishes to all the countrymen on the auspicious occasion of Rakshabandhan," Prime Minister Modi tweeted in Hindi.

Rakshabandhan, which is being celebrated today, is a celebration of the unique bond between brothers and sisters. Tying of the Rakhi by sisters, symbolises love, affection and mutual trust between brothers and sisters. 

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