NEW DELHI : In order to attract investments in infrastructure sector, the finance ministry will organize a two-day India Investment Summit from February 4, which would see the participation of various global investors.
“India Investment Summit organized by Finmin will be held in New Delhi on February 4-5. Global long-term investors will participate,” economic affairs secretary Shaktikanta Das tweeted on Wednesday.
India has been trying to attract foreign investment for “Make in India” campaign with a view to boost economic growth and generating employment. Other economic ministries, roads, highways, oil and gas and railways are expected to participate in the summit.
Various global private equity funds and sovereign wealth funds (SWFs) are likely to participate in the event, which is being organized by the finance ministry. The ministry is seeking participation from SWFs for the Rs 40,000 crore National Investment and Infrastructure Fund (NIIF), which will act as a nodal agency for fund long-term projects, including stalled ones.
Since coming to power in May 2014, the NDA government has relaxed foreign direct investment norms in over a dozen sectors including defence, banking, railways, construction and medical devices.
Finance minister Arun Jaitley has on several occasions said the country needs to attract foreign investment to supplement domestic efforts to accelerate growth.
@Agency news.
Hyderabad : Eleven men have been arrested from various parts of the city by the ‘SHE Teams’ of Hyderabad Police for eve-teasing and allegedly harassing women. Two among the arrested persons are drivers and were caught while teasing women during Republic Day celebrations at Parade Grounds here yesterday, police said today.
They were caught red-handed with video evidence, arrested and are being produced in court,” Additional Commissioner of Police (Crimes and SIT) Swati Lakra said.
The nine men were arrested from different areas on charges of making frequent calls to women, sending messages and obscene pictures, proposing and harassing, stalking, besides teasing and passing comments on them, she added.
‘SHE Teams’ set up in October 2014, are tasked with cracking down on eve-teasers and stalkers.
@ Agency report.
New Delhi : The imposition of President’s rule in crisis-hit Arunachal Pradesh today came under the scanner of the Supreme Court. The court sought the report of Governor Jyoti Prasad Rajkhowa recommending central rule in the state.
It posted the matter for February one asking the Governor and the Ministry of Home Affairs to file responses by Friday on petitions filed by Congress leaders including the plea of Rajesh Tacho, Chief Whip of Congress Legislature party in the state assembly which is now kept under suspended animation.
When Additional Solicitor General Satpal Jain, appearing for the Governor, sought to maintain secrecy of the report and the recommendation for the President’s rule, the bench said, “He will only mention the date of report recommending President’s rule to opposite parties during the course of the day.”
However, the bench for its own perusal sought in a sealed cover the report and recommendation on imposition of the President’s rule.
@Agency report.
Panaji : The Goa government is considering banning consumption of liquor in public places to check nuisance, a senior official said here today.
“There are complaints from common people about consumption of liquor in public places, which leads to littering and other nuisance. The existing excise law needs to be amended for the same,” Goa’s Excise Commissioner Menino D’Souza told PTI.
“The state excise department would amend the Goa, Daman and Diu Excise Act, 1964, which would give powers to the department’s inspectors to punish the offenders,” he said.
The department has already formed a committee headed by former excise commissioner Ashok Desai to review the existing excise law, D’Souza said.
According to government records, there are 332 wholesale liquor shops in Goa, besides 9,445 bars and restaurants serving alcohol.
D’Souza said the state tourism department has already amended the Goa Tourist Places (Protection and Maintenance) Act to check the nuisance of drunken people at tourist places.
“The tourist places are defined as beaches and other spots, and India Reserve Battalion (IRB) of Goa Police have been asked to take action against those found drinking at these places. It is working as a deterrent,” he said.
The Republic Day commemmorates India’s constitution coming into force on January 26, 1950, declaring India a democratic republic. The date is the anniversary of Purna Swaraj Day held on January 26, 1930.
Military parades are a tradition that inspire patriotism across nations and, in that vein, the Republic Day parade has become an emblem of India’s national pride.
Men in crisp uniforms marching across Rajpath following strict military discipline is an awe-inspiring sight on Republic Day.
Rigorous selection
For the military, it is one of the high points of the year. The selection of personnel is a very rigorous process. The first selection starts in June and the men are trained at the regimental centres. Each regiment’s turn comes once in three years and usually only those in peace locations are involved.
The units are informed beforehand so they start preparation much earlier. They congregate in Delhi by end November. The parade is timed to the last minute and there is thorough coordination with all services.
Huge expense
Apart from the effort and time invested in rolling out the columns and colourful tableau, there is also a huge financial cost involved. According to reports and Right To Information (RTI) reply from the Central Public Works Department (CPWD) the Centre spent Rs. 320 crore on the parade in 2014. In 2001, the expenditure was Rs. 145 crore . Republic day parade is a four -hour show.
New Delhi : Indian economy is less vulnerable to external shocks as it is mainly driven by household consumption and government spending, and not dependent on hot money which can move out quickly, Standard & Poor’s Rating Services said today.
The US-based rating agency expects the current account deficit (CAD), which is the difference between inflow and outflow of foreign exchange, to remain at a modest level of 1.4 per cent at the end of current fiscal and would continue at similar level till 2018.
“We see India as having limited vulnerability to external economic or financial shocks. This is because growth in the economy is mainly driven by domestic factors, such as household consumption and government spending.
“At the same time this is a country that has low reliance on external savings to fund its growth. In other words, the banks are mainly deposit funded and don’t rely on wholesale funding to grow their loan books,” S&P Rating Services India Sovereign Analyst Kyran Curry told PTI.
He said India’s capital markets are diversified and deep enough for companies to raise funding.
“Another favourable aspect of India external settings is that it is generally not subject to hot money inflows that can turn into outflows with shifts in investor sentiment. As such we see the external risks for India to be relatively contained,” Curry said.
He said while export growth may be disappointing, the current account deficit likely to be a modest 1.4 per cent in 2015, with similar levels through 2018.
“Our forecasts are partly informed by our view of increased monetary credibility, which dampens the demand for monetary gold imports. In addition, we expect India to fund this deficit mostly with non-debt, creating inflows,” Curry added.
The CAD in the first half of current fiscal stood at 1.4 per cent of GDP, lower than 1.8 per cent in the same period last fiscal. For full 2014-15 fiscal, the CAD stood at 1.3 per cent of GDP.
@Agency report.
Tolouse, France : A team led by atmospheric scientist Jean Ricard of the National Centre for Meteorological Research in Tolouse, France, has identified twelve rainbow ‘flavors,’ each with its own distinct characteristics.
For a rainbow to form there has to be sunlight and rain. As the white rays of the sun encounter the raindrops, they bend because of a phenomenon called refraction. Since the seven colors that make up white light have different wavelengths, they bend at different rates and disperse, resulting in a rainbow.
The team began by identifying the four characteristics that can encompass all rainbows. There is, of course, the classic rainbow with the red band on top and the blue-violet on the bottom. Then there are the ones with the Supernumerary bows – Bright bands either at the top or bottom. In between some rainbows, you might notice Alexander’s bands, dark areas caused by less light being reflected. And finally on occasion, one may be lucky enough to witness a ‘double rainbow’ – One that features a normal bow and a second, fainter bow above, except with the colors reversed. Armed with this knowledge the team began analyzing hundreds of rainbow photos and grouping them in one of the four categories.
In addition to identifying 12 distinct rainbows, Ricard and his team also stumbled upon another discovery. They found that while the angle and size of raindrops do matter, the biggest determinant of rainbow colors is the sun’s distance from the horizon. If the sun is further up in the sky, the colors will be largely blue and green. If it is closer to the horizon, only the red and orange will be visible.