World Bank to provide India $360 million credit for Uttar Pradesh Water Sector Restructuring Project October 29th, 2013 Government of India inked a pact with the World Bank for credit of $360 million for the development of second phase of Uttar Pradesh Water Sector Restructuring Project. The objectives of the project are : To support the State in capacity building of Water Users Association, rehabilitation and modernization of irrigation, development of Basin River planning strategies and flood management systems. To improve the institutional and policy structure for integrated water resources management for the entire State To enhance agricultural productivity and water productivity by assisting farmers in targeted irrigation areas. What are the key areas of work in Uttar Pradesh Water Sector Restructuring Project? There are six main areas to be worked upon in this project: Strengthening of State Level Water Institutions and Inter Sector Coordination Modernization and Rehabilitation of Irrigation and Drainage Systems Consolidation and Enhancement of Irrigation Institution Reforms Enhancing Agriculture Productivity and On-Farm Water Management Feasibility studies and Preparation Activities for the Next Phase Project Coordination and Monitoring. Shahrukh Khan is Goodwill Ambassador for South Korea October 27th, 2013 Screenshot_1Bollywood actor Shahrukh Khan has been appointed as the Goodwill Ambassador for South Korea. He has been appointed as the public diplomat as well as an ambassador of India’s soft power. As a Goodwill Ambassador he will visit South Korea before the maiden visit of South Korea President Park Geun-hye. It must be recalled that India and South Korea have already inked a civil nuclear pact but it is still not operational. What does a Goodwill Ambassador do? Goodwill Ambassador is basically an honorary title for an Ambassador of Goodwill given to an individual by a country. The job of Goodwill Ambassadors is to deliver the goodwill or promote the ideals from one place or entity to another. The goodwill ambassador may be an individual from one nation who lives or travels to another nation for a diplomatic mission or for an international friendship mission. (S)he is an ambassador of a nation’s Soft Power. Plastic Park sanctioned for Odisha October 27th, 2013 Ministry of Chemicals and Fertilizers - Government of India approved for establishing a Plastic Park at Siju Village, Kujanga Tehsil of Jagatsinghpur District in Odisha. In this direction, a Special Purpose Vehicle (SPV) called Paradeep Plastic Park Limited would be set up for funding of the park. The Government of India will provide a grant of Rs 40 crore for this purpose. Why the Plastic Parks are being created? The Government of India intends to set up a number of plastic parks in the country as envisaged in the the National Plastic Park Policy in 2010 which was modified in 2013. The national policy for plastic parks seeks to organise the plastic manufacturing and processing industry by setting up “dedicated plastic parks”. At present, the industry is highly fragmented and disorganised. Most units are in the small and medium category. While they are producing and processing plastic, there is no hub where one can source it at one place. On the other hand, there are industries ranging from tooth brush and milk pouches to automobiles and automobile spare parts and accessories which are regularly facing a problem of timely availability of raw material both in basic or processed form. Therefore, such a park will function as a centre for manufacturers of telecom or automobile and other users to source the material. The policy intends to encourage competitiveness of the plastic industry by upgrading the quality of the product to suffice the end uses of domestic industries and exports. Therefore, it will benefit both the established players in the industry and the first generation entrepreneurs as long as it has competitive edge. Thus, the policy will not have much financial incentive and is more of a facilitator of infrastructure support for industrial units. What are the recent modifications in the National Plastic Park Policy? The policy has been modified to specify the role of state governments, the scheme will be demand driven and the government will provide a one time grant. This grant will be given to the Special Purpose Vehicle (SPV) set up by the State Government or any of its agencies such as State Industrial Development Corporation (SIDC) in association with user enterprises representing the plastic sector / sub sector. What is the funding pattern for setting up the Plastic Parks? Government of India would provide grant funding up to 50% of the project cost subject to a ceiling of Rs. 40 crore per project. The remaining contribution in the SPV will be from the State Government or State Industrial Development Corporation or similar agencies of State Government, beneficiary industries and loan from financial Institutions. The equity contribution of the State Government or respective SIDC shall be at least 26% of the cash equity of the SPV (excluding value of any land given as equity). The Ministry of Chemicals and Fertilizers The Ministry of Chemicals and Fertilizers is the administrative unit of 3 departments:- Department of Chemicals and Petrochemicals Department of Fertilizers Department of Pharmaceuticals The Ministry of Chemicals and Fertilizers is headed by Minister of Chemicals and fertilizers. Russian Parliament approves Anti-Terror Bill October 27th, 2013 In a move which aims to make terrorism punishment in Russia more sever, the lower house of the country’s Parliament, Duma passed a new Anti-Terror Bill which makes punishment for terrorism more harsh and also holds terrorists’ relatives liable to pay for the damages caused in attacks. The upper house is expected to approve the Bill and then it will be forced into law by the assent of President Vladimir Putin. The bill further provides that training for terrorist activities is punishable by up to 10 years in prison. Those participating in a militant group on foreign soils may face a punishment of up to 6 years. Putin has taken a tough stance against the North Caucausus rebellion following two wars between the Russian army and Chechen separatists.
Posted on: Thu, 31 Oct 2013 17:20:34 +0000
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