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By ugesh sarkar, Section News
Agriculture minister and NCP chief Sharad Pawar, who has set off speculation about being divested of one of his portfolios after he met Prime Minister Manmohan Singh on Monday pleading that his work-load be reduced, has fuelled speculation that PM Manmohan Singh might reshuffle his Cabinet before the ensuing session of Parliament, which is scheduled to begin in the last week of this month.
Mr Pawar is likely to continue with his present responsibilities, but he will get one or two ministers of state (MoS) to oversee three crucial departments of agriculture, food and consumer affairs. The key vacancy in the external affairs ministry, after Shashi Tharoor's exit in April could be filled by MoS in commerce ministry Jyotiraditya Scindia. Congress president Sonia Gandhi's phone call to LJP chief Ram Vilas Paswan to greet him on his 64th birthday on Monday has signalled he could find a place in the Cabinet although sources close to Mr Paswan ruled out the possibility. There are also reports that RLD chief Ajit Singh could find a berth in the Cabinet with the Congress looking at expanding its base among the Jats. With the Opposition gunning for telecom minister A. Raja accusing him of corruption, the PM and the Congress leadership may take a call on his fate in consultation with DMK chief K. Karunanidhi. Source: www.deccanchronicle.com Cabinet reshuffle: Raja out, Scindia in? By ugesh sarkar, Section News Jyotiraditya Scindia is the new member of the Board of Control for Cricket in India (BCCI) disciplinary committee.A special general meeting of the BCCI is currently on in Mumbai. Its only agenda is suspended IPL commissioner Lalit Modi, the showcause notices and his replies. According to sources BCCI is likely to file criminal charges against Modi on three counts. Jyotiraditya joins Chirayu Amin and Arun Jaitley as a member on the panel probing the case of Modi. Jyotiraditya replaced BCCI president Shashank Manohar on the committee. Manohar had recused himself from the disciplinary committee to hear the case of Modi. Jyotiraditya is also Union minister of state for commerce and industry. His father, Madhavrao Scindia was president of the BCCI from 1990 to 1993. Source: DNA Jyotiraditya Scindia is new BCCI disciplinary committee member By ugesh sarkar, Section Business & Industry
Confident of meeting the $200-billion export target'.
In order to get the ground reality on the foreign trade front to dispel any doubts, Business Line spoke to the affable and articulate Minister of State for Commerce and Industry, Mr Jyotiraditya M. Scindia. Not the one to countenance the canard that UPA-II is less rooting for reforms, Mr Scindia contends with zeal hat "Reform is very much a part of our agenda and it is very important to look at process as opposed to events. Just because a one year milestone has been crossed does not mean that a couple of reforms should have taken place. The process is very much on. Just as in UPA first five-year tenure, we will have major milestones and high economic pace to make development much-more inclusive and reform-oriented agenda in the current tenure". Following are the excerpts from Mr Scindia's own words: "We have done commendably on the export front in an environment of extreme volatility -- last 18 months had seen probably the most turbulent time that the world had witnessed since the Great Depression of the 1930s. Keeping in mind the context of the turbulence that we have encountered, our policy is starting with the pump-priming of the economy with the stimulus package of Rs 1.90 lakh crore, followed by our FTP, which we have announced August of last year, where we looked at the new direction that need to be given for exports -- away from our traditional markets to much more developing markets such as Africa, Latin America, Oceania and Asia, I think all these steps combined have been able to close at $176 billion for 09-10, which is down by 4.7 per cent over the previous year. Source: www.thehindubusinessline.com We will be able to post upwards of 8% GDP growth this fiscal, says Scindia Click On "Full Story" For More... (973 words in story) Full Story By ugesh sarkar, Section Business & Industry
Minister of State for Commerce and Industry Jyotiraditya Scindia today suggested setting up of industrial training institutes in SEZs, which have attracted investments of about USD 28 billion (around Rs 1.26 lakh crore).
"Why can't we not think of setting up of vocational training centres, ITIs within these SEZs," Scindia said at the CII annual conference here. He said people trained in those institutes could get employment in the special economic zones (SEZs). SEZs have emerged as major sources of employment in the recent years with about five lakh people getting jobs in the tax-free zones. The government has given formal approval for setting up 580 SEZs, of which 105 are operational. Scindia further said there was need to create employment opportunities in the rural India as it would go a long way in checking migration towards cities Source: PTI Scindia for training institutes in SEZs By ugesh sarkar, Section News
The government today said it has no intention to bring down the import duty on tea immediately, to protect the interest of the domestic industry.
"Well, not currently," Minister of State for Commerce and Industry Jyotiraditya Scindia told reporters when asked if the government plans to reduce the import duty on tea, which is 100 per cent at present. Though he did not mention the level of comfort, Scindia said that the country's tea production this year is likely to reach the threshold of a billion kg. Speaking at a seminar on tea here, he stressed on the need to augment domestic production to compete in world trade, where Kenya and Sri Lanka are emerging as big competitors for India. India exported a little over 200 million kg of tea last fiscal, recording 10 per cent growth over the previous year in value terms. Source: Business-standard No plans to bring down import duty on tea: Scindia Click On "Full Story" For More..... (306 words in story) Full Story By ugesh sarkar, Section Business & Industry
The government today said it is examining ways to reduce transaction costs for exporters to enable them compete better in the tough global markets.
A task force headed by minister of state for commerce and industry Jyotiraditya Scindia is expected to submit its report by June-end. Simplification of procedures and transparency issues need to be addressed. Cost arising out of inefficiencies in the process can be avoided, Scindia said at a Ficci function here today. He further said the transaction cost estimated to be $12-15 billion by the task force, works out to 7-8 per cent of total export value. "Even if we are able to work on and reduce up to 30 per cent of these costs, we will be rendering a huge benefit to the exporting community," he said. The cost in India is almost double than in China and Malaysia. He said members of the group would soon visit Denmark and Singapore to study their procedures. The commerce ministry will work closely with other ministries of finance, agriculture, shipping, textiles and environment for execution of its strategy, he said. The country's exports grew by 34.8 per cent to $16.09 billion in February compared to a year ago period. Exporters face aggressive competition from China and other developing countries for their pie of the developed markets. Source: Business-standardGovt examining ways to trim transaction costs for exporters By ugesh sarkar, Section Business & Industry
Union Minister of State for Commerce and Industry Jyotiraditya Scindia today suggested Madhya Pradesh Government should hold one-to-one meeting with industrialists for attracting investment instead of holding investors meet.
"It would be better if the State Government holds one-to-one meeting with the industrialists for setting up industries in the state instead of holding investors meet," Scindia told reporters. The Union Minister also advised the government to ponder over the fact that why Nano car project went to Gujarat instead of MP when better facilities were also available at Pithampur Industrial area near Indore. One of the reasons behind industrialists not coming to Madhya Pradesh could be state's law and order situation, he said, adding besides, state has no proper infrastructure to create model industrial atmosphere. Source: PTI MP govt should interact with industrialists: Scindia By ugesh sarkar, Section Business & Industry
COMMITTEE UNDER MINISTER MAKING IN-DEPTH STUDIES TO CUT TRANSACTION COSTS BY 7-10%
Exporters hit by the world trade contraction can look forward to a helping hand from the government, which is determined to speed up steps to cut their transaction costs--by $10-15 billion or 7-10% of the value of India's merchandise exports--the minister of state for commerce and industry Jyotiraditya Scindia told FE. A plan of action is underway for reducing the time lost by exporters in the maze of bureaucracy and virtual monetisation of the time so saved, the minister said in an interview.
The agencies that an exporter needs to approach between his signing a contractual agreement with the buyer abroad and delivery of goods are multifarious (the DGFT, Customs, airport and seaport authorities, railways, export promotion councils, state government departments, quality control agencies, banks and the like.). Hundreds of documents are to be produced before these agencies. It takes 25-40 days for the exporter to complete the procedures, not to mention the "additional monetary costs" (read corruption). In recent months, as part of the measures to obviate multiple clearances, the government introduced a system of electronic data exchange between DGFT and Customs in certain sectors. The system would be fully functional, by including all agencies and sectors, by June 2010, an official source said. The recommendations of the Scindia committee would go much beyond these and produce a list of doable actions in the next 2-3 months to facilitate fast-track clearances and simplified procedures. Source: Financial Express By Ronojoy Banerjee Govt to fast-track export clearances: Scindia Click On "Full Story" For More... (551 words in story) Full Story By ugesh sarkar, Section Business & Industry
The government is implementing three sub-schemes for the development of leather industry, informed Jyotiraditya M. Scindia, Minister of State for Commerce and Industry, in a written reply in the Lok Sabha on Monday.
The minister informed that the Central Government is implementing three sub-schemes under Indian Leather Development Programme (ILDP) during the 11th Five Year Plan to meet the requirement of manpower in the leather industry.
<center> "The government is implementing a sub-scheme, "Integrated Development of Leather Sector" (IDLS) with an outlay of Rs. 253.43 crore under ILDP during the 11th Five Year Plan period," release said. Under the sub-scheme, assistance are provided to leather units in the form of investment grant at a rate of 30% for Small Scale Industries (SSI) and 20% for non-SSI upto Rs. 50 lakh. Assistance above Rs 50 lakhs is provided at a rate of 20% within ceiling of Rs. 2 crore. Testing facilities for the Leather Industry exist at Central Leather Research Institute, Chennai and its Regional Centres at Jallandhar, Kolkata and Kanpur; Footwear Design and Development Institute at Noida and Fursatganj; and Testing Centre in the Footwear Component Park at Chennai. For addressing the environmental issues of the Leather Industry, the Central Government is implementing a sub-scheme "Environment Initiatives" with an outlay of Rs. 200 crore under ILDP during the 11th Five Year Plan period. Source: smetimes.tradeindia.com 3 sub-schemes for development of leather industry By ugesh sarkar, Section Business & Industry
The government may withdraw incentives offered to certain export-oriented sectors and reallocate them to industries that are still struggling for survival after a review in April, said the Minister of State for Commerce and Industry, Jyotiraditya Scindia, on Tuesday.
"After a review of the working of the various incentives, a decision for any kind of change in the stimulus measures for the sectors coming out from the impact of global financial meltdown will be taken after March 31," Scindia told reporters in New Delhi. India's merchandise exports have been showing signs of recovery for the third straight month after declining 13 successive months since October 2008 on account of the global economic meltdown. But while some sectors like tobacco, spices, man-made yarn, gems, chemicals and jewellery have shown satisfactory export growth in the past few months, textiles, handicrafts, carpet, engineering goods are still reeling under the impact of global crisis. The government had provided over Rs. 1.80 lakh crore as part of three stimulus packages to prop up the economy against global downturn. Also, the Commerce Ministry had given enhanced assistance for exploring new markets to exporters and extension of duty refund scheme till December 2010, besides other sops. Source: smetimes.tradeindia.com Govt likely to reshuffle exports stimulus: Scindia Click On "Full Story" For More.... (382 words in story) Full Story
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