Uttar Pradesh

rain

Light to moderate rain hits eastern Uttar Pradesh

LUCKNOW: Light to moderate rains or thundershowers occurred at a few places over eastern Uttar Pradesh, while heavy rains occurred at isolated places in the past 24 hours in the state.  Balrampur and Iglas recorded 9 cm of rain, Bahraich 7 cm, Maharajganj 5 cm, Kakrahi, Bansi and Gorakhur 4 cm each, Fatehgarh, Regoli, Sidhauli, … Continue reading Light to moderate rain hits eastern Uttar Pradesh

Bollywood

nawazuddinsiddique

Thinking about stardom is scary: Nawazuddin Siddiqui

New Delhi: His name adds credibility to the films he does and the actor has A-listers vying to work with him but Nawazuddin Siddiqui does not want to think about stardom as he fears it will corrupt his performances. Film after film, there has been a growth in Nawazuddin’s fan following so much so that … Continue reading Thinking about stardom is scary: Nawazuddin Siddiqui

U.P

rain

Light to moderate rain hits eastern Uttar Pradesh

LUCKNOW: Light to moderate rains or thundershowers occurred at a few places over eastern Uttar Pradesh, while heavy rains occurred at isolated places in the past 24 hours in the state.  Balrampur and Iglas recorded 9 cm of rain, Bahraich 7 cm, Maharajganj 5 cm, Kakrahi, Bansi and Gorakhur 4 cm each, Fatehgarh, Regoli, Sidhauli, … Continue reading Light to moderate rain hits eastern Uttar Pradesh


Category: Bussiness News

Consumer Price Index inflation or retail inflation cooled to a five-year low of 3.17% in January 2017 compared to 3.41% in December as the impact of demonetization played out in the economy. While the CPI inflation figure was lower than the 3.22% that Reuters estimated by polling economists, experts say that retail inflation has now bottomed out and will only go higher hereon.

Retail inflation cooled in January led by lower food prices for a second straight month. Food inflation was at 0.53% in January compared to a revised 1.37% in December. Inflation in vegetables was negative at (-)15.62% from (-)14.59% a month ago and for pulses and products, prices deflated by (-)6.62%, according to a PTI report.

The Government has decided to allot the right to use certain spectrum for 20 years through Spectrum Auction to be conducted in the Month of September 2016. The Notice Inviting Applications (NIA) for Auction of Spectrum has already been uploaded by DOT on its website < www.dot.gov.in > today. A single auction will be conducted in Simultaneous Multiple-Round Ascending (SMRA) format for 7 bands i.e. 700MHz, 800MHz, 900MHz, 1800MHz, 2100MHz, 2300MHz and 200MHz bands together.

1.Spectrum put on offer is as follows;

 

S.N Band (MHz) Block Size MHz Spectrum put to auction
Availability in          No of LSA Total Quantity    (in MHz)
1 700 5       (Paired) 22 770.00
2 800 1.25  (Paired) 19 73.75
3 900 0.20  (Paired) 4 9.40
4 1800 0.20  (Paired) 21 221.40
5 2100 5      (Paired) 22 360.00
6 2300 10    (Unpaired) 16 320.00
7 2500 10    (Unpaired) 22 600.00

 

2           The total quantity of spectrum put to auction is 2354.55 MHz. This includes 197 MHz of additional spectrum in 1800 MHz band and 37.5 MHz in 800 MHz band released due to harmonization of spectrum in these bands.

 

3           Rates of SUC for the access spectrum held or/and to be acquired through the forthcoming auction by various access service providers in 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz & 2500 MHz bands shall be as follows:-

(i)     Spectrum acquired in forthcoming auction in 700, 800, 900, 1800, 2100, 2300 & 2500 MHz band is to be charged at the rate of 3% of AGR excluding the revenue from wire line services.

 

(ii)   The weighted average of SUC rates across all spectrum assigned to an operator (whether assigned administratively or through auction or through trading) in all access spectrum bands including BWA spectrum obtained in 2010 auction shall be applied for charging SUC subject to a minimum of 3% of AGR excluding revenues from wireline services. The weighted average is to be derived by sum of product of spectrum holdings and applicable SUC rate divided by total spectrum holding. The Weighted Average Rate should be determined operatorwise for each service area.

 

(iii) The amount of SUC payable by the operators during 2015-16 at weighted average derived after taking into consideration the spectrum acquired in the coming auction and excluding the spectrum in 2300 MHz/2500 MHz band acquired/allocated prior to 2015-16, be treated as the floor amount of the SUC to be paid by the operators. Further, in case there is a reduction in AGR of the service provider, the floor amount of SUC shall be reduced proportionately.

4 .The option of making payment either full upfront or through deferred payment option has been retained.

5.In case of deferred payment option, the quantum of upfront payment in case of over 1GHz band i.e. 1800 MHz, 2100 MHz, 2300 MHz & 2500 MHz has been slightly modified w.r.t. 2015 auction from 33% (NIA 2015) to 50% of the bid amount. However, in case of below 1 GHz band i.e. 700 MHz, 800 MHz & 900 MHz there is no change w.r.t 2015 auction and has been kept same as 25% of bid amount.

6 .The spectrum will be assigned to the successful bidder within 30 calendar days from the date of receipt of due payment under both options.

7 .For the successful bidder, the Lock-in period of equity in the company has been reduced to one year instead of earlier stipulation of minimum period of 3 years or completion of roll out obligation, whichever is later.

8. There is no change in the eligibility condition. All existing Access Service providers and the entity that are eligible to acquire Access Service authorisation are eligible to participate in this auction.

9.In case of deferred payment option the same methodology of making part payment as upfront and balance payment in 10 yearly instalments after 2 year of moratorium is retained

10.The interest rate for the deferred payment option has been prescribed at the prevailing SBI base rate of 9.3% (it was 10% in 2015 auction).

11.The method of calculation of spectrum cap w.r.t. previous auction has been modified. The spectrum surrendered has also been included in the calculation of spectrum cap apart from the spectrum put to auction and assigned spectrum. The spectrum cap shall not be reduced in case spectrum is allocated for non-commercial use after auction.

12.The department recognise that in case of mobile system, coverage is to be complemented by capacity augmentation. There are many other steps that had been taken for ease of doing business and speedy roll-out of the network. Such as;

(i) Submission of self-certification of completion of roll-out obligation to the tune of 90%.

(ii)The roll-out obligation has been further eased out. Now the roll-out obligation shall be treated as fulfilled once the required numbers of district headquarters or block headquarters are covered by use of any technology in any band.

(iii)The frequency allocation process has been further streamlined so as to facilitate bidder to have maximum quantity of contiguous spectrum provided it does not disturb the block of 5 MHZ for other bidders.

13 The various stakeholders have been consulted and after publication of this NIA, a pre-bid conference is also planned to be organised by 13th August, 2016 to have further interaction with the stakeholders and answer their queries. Further bidder has the opportunity to submit its queries by 19th August, 2016 and the department will issue clarification by 29th August, 2016.

The Government believes that this will provide a great opportunity to the existing service providers as well as new entrants. The existing service provider may acquire additional spectrum so as to match international level of spectrum holding.

The US-India Business Council (USIBC) applauded the latest reforms announced by the Government of India on November 10 2015, liberalizing FDI norms in industries that are starved for capital and enable the ease of doing business in the country.

“Putting more FDI proposals through the automatic route is clear signal that the government is living up to the mandate of minimum government and maximum governance. India’s recent rise in World Bank’s Ease of Doing Business, the ruling on Minimum Alternative Tax (MAT), its efforts to modernize the railways network, lifting of FDI in the insurance sector are all significant achievements that will propel more investment and innovation in the country,” said Mukesh Aghi, President of the US-India Business Council.
USIBC member companies are encouraged by the government’s efforts to undertake economic reforms and stay away from politically driven distractions,” he added.

Aghi also said that India continues to see increased FDI despite an uncertain global outlook. “If the government continues on the current trajectory of bold (FDI and regulatory) reforms, then India will easily surpass the $41 billion (Rs 2.71 lakh crore) in FDI from US companies.”

During the Prime Minister’s visit to Washington DC in September 2014, USIBC had identified upwards of $41 billion slated for investment from members over the next three years, based on a survey of 20% of USIBC’s membership.

Emphasizing the benefit of a more open economy, Aghi said, “Allowing a path to relax the norms for sourcing for single brand retailers who sell cutting edge technology will clear many of the challenges that high-tech companies have had when it comes to taking advantage of the 100% opening of the single brand retail sector.”

“In construction development, removal of two major conditions on minimum requirements area restriction of 20,000 sq m and capitalization of $5 million (Rs 33.1 crore) will provide much-needed boost to investment in the real estate development sector,” he added.

The Council is keen on further reforms in these sectors and additional liberalization that will aid the growth of bilateral trade.

Aghi added, “FDI in business to e-commerce still remains restricted. As a result, smaller Indian e-commerce companies cannot seek the capital they need to grow their business and hire more employees. USIBC will continue to urge the Department of Industrial Policy & Promotion (DIPP) to allow at least 51% FDI in e-commerce.”

Formed in 1975 at the request of the US and Indian governments, the US-India Business Council is the premier business advocacy organization, comprised of 350 top-tier US and Indian companies advancing US-India commercial ties. USIBC is the largest bilateral trade association in the United States, with liaison presence in New York, Silicon Valley, and New Delhi.

India Carpet Expo at Varanasi has witnessed the overwhelming presence of 350 overseas buyers, in addition to 276 buying representatives, in the first three days.

A delegation from Yiwu city of China visited the India Carpet Expo on 13th October, 2015 on an invitation from CEPC. Mr. Wang Bi Rong, Director General Bureau of Commerce led the delegation of eight members to study the qualities of Indian handmade carpets displayed by 303 exporters from all over India.
The delegation from CEPC was led by Shri Kuldeep R. Wattal, Chairman, CEPC, accompanied by all Members of Committee of Administration of the Council. A presentation was made about the economy and market position of the Yiwu City, by Mr. Wang Bi Rong. The Chinese delegation was very excited to visit the Expo and informed that they witnessed a very high quality in Indian handmade carpets, which they did not find in China. The delegation was confident that the Indian handmade carpets would get a very good sales response in Yiwu City. They informed that after the Expo, they will discuss with CEPC in arriving at a Memorandum of Understanding (MoU) for promoting and selling Indian handmade carpets in Yiwu. CEPC Chairman, Shri Kuldeep R. Wattal expressed hope that such collaborations would give a boost to exports of Indian carpets to China.

While thanking CEPC for hosting them and giving them an insight into Indian handmade carpets industry, Mr. Rong, the Director General, expressed the desire to have a strong representation of Indian Handmade Carpet Exporters in Yiwu City in their May 2016 show. Chairman, CEPC appreciated the efforts of the delegation in making Indian carpets popular in China; he also assured them that the industry is looking forward to China as a whole and Yiwu City in particular, adding that China will be one of their major business partner countries in coming times.

Shri Ravinder Jaiswal, MLA, Varanasi also visited India Carpet Expo and saw the arrangement and facilities available at the fair ground. He met the participating exhibitors also and appreciated the new developments made by the Indian carpet manufacturers. He met overseas buyers and Chinese delegation as well and assured the carpet exporters and CEPC that he will apprise Hon’ble Prime Minister Shri Narendra Modi of the efforts made by Carpet Export Promotion Council in providing excellent infrastructure to the manufacturers from Varanasi-Bhadohi-Mirzapur belt in promoting Indian carpets and helping the artisans and weavers of this area.

Some of the leading and reputed buyers from US, U.K., Brazil, South Africa and other European countries who visited the fair spoke very encouragingly about the display of various handmade carpets, floor coverings and arrangements made by the organizers.

Organizers are extremely happy with the results till today and hope that more and more buyers will come on the last day of the Expo as well, on 14th October, 2015, and make this Expo a very successful one.

Mumbai, Sep 24 (PTI) The benchmark BSE Sensex fell over 100 points in early trade today as participants cut down bets in view of the September series expiry in the derivatives segment amid a sluggish global trend.

The 30-share barometer, which had gained 171.15 points yesterday, fell 100.98 points, or 0.39 per cent, to 25,722.01, with capital goods, metal, power and oil & gas sector stocks contributing to the fall in a big way.

Also, the NSE Nifty declined 15.20 points, or 0.19 per cent, to 7,830.75.

Brokers said squaring-up of positions by participants with today being the last trading session of the September derivatives expiry and a weak trend at other Asian bourses following overnight losses on the Wall Street as weak Chinese and US factory data added to growth worries dampened sentiment.

Hong Kong’s Hang Seng was down 1.03 per cent. Japan’s Nikkei, which opened after a long weekend, plunged 2.34 per cent while Shanghai Composite rose 0.18 per cent in early trade today.

The Dow Jones Industrial Average ended 0.31 per cent lower in yesterday’s trade.

The Department of Agriculture, Cooperation & Farmers Welfare (DAC&FW) of the Ministry of Agriculture & Farmers Welfare organizes Rabi and Kharif Conferences every year with a view to review performance of the preceding season and to prepare strategies for the coming season. In order to review the production performance of Kharif-2015 season, formulate strategies for crop production for ensuing Rabi 2015-16 season, take stock of inputs to ensure timely supply and to create awareness of new technologies & innovations in crop production and allied sectors, a National Conference on Agriculture for Rabi Campaign 2015-16 is being organized on 22nd and 23rd September, 2015 at the National Agriculture Science Center, ICAR Pusa Complex, New Delhi.

The Agriculture Production Commissioner / Principal Secretary / Secretary of Agriculture & Horticulture / Commissioner / Director of Agriculture / Horticulture from all the States / Union Territories; Scientists from Indian Council of Agricultural Research (ICAR); officers from the Department of Fertilizer (Government of India); Refinance institutions like National Bank for Agriculture and Rural Development (NABARD); officers of the Ministry of Agriculture & Farmers Welfare will participate in the conference. During the conference key presentations on performance of crop production during Kharif 2015 and strategies / prospects for Rabi 2015-16; and on focused topics highlighting innovative schemes related to agriculture & horticulture as also new research technologies would be made for providing exposure to the States.

The Conference would be inaugurated by the Hon’ble Minister for Agriculture & Farmers Welfare, Shri Radha Mohan Singh; Hon’ble Ministers of State, Dr. Sanjeev Kumar Balyan and Shri M.K. Kundariya will grace the occasion. They will all be addressing the administrators, technocrats, agricultural scientists, representatives of various central departments / autonomous bodies and media persons invited to this important event. Shri Siraj Hussain, Secretary, Department of Agriculture, Cooperation & Farmers Welfare under whose leadership and guidance the Rabi Conference is being organized will be present through the two day sessions and will address at the inauguration.

Shri Ashok Angurana, Secretary, Department of Animal Husbandry, Dairy & Fisheries and Dr. S. Ayyappan, Director General, ICAR and the Secretary, DARE will also address the august gathering and briefly apprise about the role & contribution of their organizations in agriculture and allied sectors with particular reference to improving the welfare of the farmers.

Maruti Suzuki India Ltd, country’s top-selling carmaker, will take shareholders’ vote for a new manufacturing plant in Gujarat after receiving the pending government approvals, its chairman said on today.

Maruti, controlled by Japan’s Suzuki Motor Corp, needs to start operations at the plant in 2017 and it is on schedule to achieve that, R.C. Bhargava told an annual shareholders meeting.

In 2014, Suzuki said it plans to build a wholly-owned car plant in Gujarat that will supply exclusively to Maruti, saving the company about 105 billion rupees ($1.58 billion).

The plan met with resistance from some of Maruti’s large Indian shareholders. The cash-rich company has delayed voting on minority shareholder approval for Suzuki to invest in the Gujarat plant pending approvals from government agencies. ($1 = 66.3750 rupee)

NTPC the largest power utility of the country recorded highest single day generation of 733.12 MUs, the highest so far in this Financial Year from its 18 coal based, 7 gas based, 8 solar and Hydro power stations on August 27, 2015. The Declared Cumulative Capability of the stations was 91.10 % and Plant load factor ( PLF) of 86.34 % on the day.

During financial year 2014-15, NTPC Group contributed 25% of total electricity generated in India with 16% share of Country’s total installed capacity as on 31.03.2015.

NTPC recorded Gross generation of 241.261 BUs (stand-alone) in fy 2014-15 registering a growth of 3.42%. Plant Load Factor (PLF) of NTPC’s coal stations was 80.23% against national average of 64.46%. Two stations recorded more than 90% PLF. All NTPC stations achieved Plant Availability of or above 83%. Four coal stations of NTPC featured among the top 10 stations of the Country in terms of PLF in Fy 2014-15.

MUMBAI, August 26, 2015 as per a recent survey conducted by CompareRaja.in, a price comparison portal, gift vouchers are the most sought after gifting option for this Raksha Bandhan. Almost a thousand plus respondents participated in the survey and the findings suggest that a majority (approx. 31.8%) of people consider gift vouchers as the most preferred gifting option.

The team carries out monthly surveys through social media handles and other engagement platforms. This month’s survey was aimed at finding out what Indian brothers consider as the best gifts for their sisters.

Apart from gift vouchers, gadgets were also a popular choice with the participants. Approximately 24.4% of the total respondents feel gadgets are an absolutely lucrative gifting option for their sibling. Among gadgets, mobile phone constituted a 55.9% as a gifting choice and was a clear winner followed by Tablets, laptops and cameras.

Prasad Shejale, Co-Founder and Chief Product Officer, CompareRaja and Couponraja said, “This insight will be very useful for e-commerce players, as it highlights the customer preference. They believe that with gift vouchers, their sisters will have the freedom to shop for anything they like, from apparels to perfumes to electronics.”

Another interesting point also became quite evident with this survey; a whopping 88% of the total respondents prefer shopping online rather than driving through the city to find the perfect gift for their sisters. This also indicates a changing trend and a preference for online shopping over shopping at physical stores.

During this festive season, all e-commerce giants have come up with new product ranges and exciting offers in order to attract customers, resulting in maximum transactions and a substantial rise in sales. This Rakhi, one can expect heavy discounts from all leading e-retailers across the nation, making online shopping even more fun!

About CompareRaja.in

Emerging as India’s leading price comparison portal, CompareRaja.in was launched in July 2012 to enable shoppers to get best available price online for their desired product. The site extends its usability further by offering discount coupons from more than 100 top e-commerce stores in India.

The Department of Consumer Affairs, Ministry of Consumer Affairs, Food and Public Distribution has filed a complaint under section 12(1)(d) of the Consumer Protection Act, 1986 in the National Consumer Disputes Redressal Commission (NCDRC). The Department has filed this class action suit on behalf of the large number of consumers of Maggi in the country against Nestle India on grounds of unfair trade practices, sale of defective goods and sale of Maggi Oats Noodles to the public without product approval.

The complainant has sought a sum of Rs 284, 55,00,000 (Rupees two hundred and eighty-four crores and fifty five lakhs) that the Opponent Company is liable to pay and a sum of Rs. 355,40,70,000 (Rupees three hundred and fifty five crores forty lakhs and seventy thousand only) as punitive damages on account of the gross negligence, apathy and callousness on the part of the Opponent Company. Thus, the total claim is for a Sum of Rs.639,95,70,000/- (Rupees six hundred and thirty nine crores and ninety five lakhs and seventy thousand ).