From: Press Information Bureau Ministry of I&B <pib.kolkata@gmail.com>
Date: Thu, Jul 8, 2010 at 3:00 PM
Subject: Releases..........pt2
Press Information Bureau
Government of India
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Ministry of Corporate Affairs
Investor Awareness Programmes to be held in 5 Metros and a large number of Towns Across the Country
New Delhi: July 8, 2010
It has been noticed that the participation of Indian population in the investment in the corporate sector is less than 1% as against the 15% in some of the developed countries. It has also been seen that there is significant household savings available with the Indian households which can be channelized into the corporate economy which will result in not only higher returns for the investors but also more growth of the corporate sector as such. The Ministry of Corporate Affairs is making an effort to bridge this gap by upscaling its investor awareness efforts. The Ministry has partnered with the professional institutes, trade and industry chambers, stock exchanges, SEBI, RBI, DPE etc. for organizing a large number of investor awareness programmes throughout the year in order to reach out to the investors. The Ministry of Corporate Affairs is also organizing the India Investor Week from July 13-17, 2010 in order to bring a national focus on the subject of investor awareness.
During the India Investor Week, five national events are being organized in the five metros where one of the industry chambers will be the lead organizer. These events are as under :
| Date | Station | Lead Organizer |
| July 13, 2010 | Kolkata | FICCI |
| July 14, 2010 | Mumbai | CII |
| July 15, 2010 | Hyderabad | FAPCCI (Federation of A.P. Chambers of Commerce and Industry) |
| July 16, 2010 | Bangalore | ASSOCHAM |
| July 17, 2010 | Chennai | SICCI (Southern India Chamber of Commerce and Industry) |
During this week, a large number of investor awareness programmes will also be organized in other cities and towns of the country by various partner organizers. The Ministry would be launching the investor awareness website in 12 regional languages during this week. A comprehensive 'Investor Guide' in English will also be released during this week along with a 'Beginners Guide' which will be published in English, Hindi and regional languages.
kkp/ska/dk/kol/14:32 hrs.
Press Information Bureau
Government of India
* * * * * *
Ministry of External Affairs
Presentation of Nalanda University Bill 2010 in the Parliament approved
New Delhi: July 8, 2010
The Union Cabinet today approved the presentation of the Nalanda University Bill 2010 for the establishment of the Nalanda University in the Monsoon Session of the Parliament at a cost of Approx. Rs.1005 crore.
The Ministry of External Affairs has prepared the Nalanda University Bill 2010 for presentation in the monsoon session of the Parliament, following the consensus reached at the East Asia Summit (EAS) held in Thailand in October 2009.
A Project Office has been leased in New Delhi for the proposed University. This office will become functional after the Bill is enacted in the Parliament.
The proposed University shall have the following schools
(a) Buddhist Studies, Philosophy and Comparative Religions
(b) Historical Studies
(c) International Relations & Peace Studies
(d) Business Management in relation to Public Policy and Development Studies
(e) Languages and Literature; and
(f) Ecology and Environmental Studies
The Nalanda Mentor Group chaired by Prof.Amartya Sen, shall draft the first statutes for the University in August 2010.
IMPLEMENTATION STRATEGY AND TARGETS
In order to implement the project, India as the host country will make a significant amount of contribution at the initial stage. The Planning Commission has allocated Rs. 50 crore as endowment fund in the form of special grant for the commencement of activities and till such time the Nalanda University becomes sustainable on its own.
The Govt. of Bihar has already acquired about 500 acres of land in Rajgir (in the vicinity of the original Nalanda University site of yore) and another 500 acres is scheduled to be acquired for the proposed Nalanda University.
The establishment of the University would facilitate the revival of Nalanda as a centre of excellence in East Asia and South Asia, reflecting in some measure the role played by the Nalanda University in ancient times. The revival of the University will also lead to the Buddhist circuits in India thereby benefitting the tourism industry substantially.
In addition to scholars/students from all over the world, the establishment of Nalanda University would benefit the local people and encourage the participation of local communities. For this purpose, the University would associate with the 200 odd villages in the local area that had a connection with the Nalanda University from days of the yore. The University will particularly benefit students from South Asian countries.
The salient features of the Bill include:
The Nalanda Mentor Group (NMG) constituted by the Government of India in June 2007 shall exercise powers as the Interim Governing Board of the University for a period of one year or till such time that the members of the Governing Board have been nominated;
The Visitor of the University shall be the President of India or any other person who may be appointed by the President;
The University shall function as a public-private partnership and the funds shall be provided on voluntary basis by the Government of Member States;
akt/ad/lv/dk/kol/14:33 hrs.
Press Information Bureau
Government of India
* * * * * *
Ministry of Personnel, Public Grievances & Pensions
Appointment by ACC
New Delhi: July 8, 2010
The Appointments Committee of the Cabinet (ACC) has approved the appointment of Shri Hrusihkesh Panda, IAS (OR:79), presently in the cadre, as Additional Secretary, Ministry of Panchayati Raj, in the vacancy of Dr. J.M. Phatak, IAS (MH:78).
rs/sr/dk/kol/14:33 hrs.
Press Information Bureau
Government of India
* * * * * *
Ministry of Petroleum & Natural Gas
Grant of Rig Holiday in Deepwater Blocks under Production Sharing Contract (PSC) Regime approved
New Delhi: July 8, 2010
The Cabinet Committee on Economic Affairs today approved the grant of drilling moratorium of three years to all deepwater block Production Sharing Contracts (PSCs) signed under various rounds of exploration till the NELP- V rounds where drilling commitments are pending as on 1st January, 2009.
With grant of drilling moratorium, the objective of accelerated exploration of hydrocarbons in the country would be accomplished, which may lead to new discoveries of oil & gas.
The proposal would be implemented immediately and the contractors would be asked to complete the drilling commitments during the moratorium period of three years.
There is no financial expenditure involved on behalf of the Government. The drilling moratorium dispensation would apply to 30 PSCs involving three contractors.
The main objective of the drilling moratorium dispensation is to enable the contractors to meet the drilling commitments under various PSCs, which have been adversely affected on account of world-wide shortage in availability of deepwater rigs since 2007 due to the then prevailing high crude oil prices. The brief details of the dispensation are as follows:
1. A drilling moratorium of three years starting from 1st January, 2008 to 31st December 2010 is granted to deepwater block PSCs signed upto NELP-V, where drilling commitments are existing as on 1st January, 2009 ( total of 30 exploration blocks). This policy will apply to all types of drilling, viz. exploratory and appraisal drilling where commitments are pending as on 1st January, 2009 except for development drilling commitments.
2. In the deepwater blocks where exploration phase has already expired with unfulfilled drilling commitments, the provisions of PSC or the extension policy will apply and contractors will be required to regularize the intervening period, if any, by seeking normal extensions under the PSC or the extension policy till the effective date of the proposed relaxation.
3. In case a contractor fails to complete the drilling commitment at the end of the said moratorium period, the contractor would be required to deposit with the Government the cost of un-finished work programme along with interest as per the SBI PLR (Prime Lending Rate) plus 2% from the start of the drilling moratorium till the date of payment by the Contractor, in case the relevant exploration phase duration and maximum extension as per extension policy has already been availed.
Background
Under the Production Sharing Contracts (PSC), there is commitment on the part of the contractor to carry out Minimum Work Programme (MWP) specified under each exploration phase. The PSCs signed till NELP-V constitute 3 exploration phases with phase-l, II & III comprising of 8 years (4+2+2) for deepwater blocks. In case of non-completion of MWP at the end of an exploration phase, the block stands relinquished and the contractor has to pay the equivalent amount of un-finished work programme with the Government. An exploration phase can be extended, as per PSC, by a period of 6 months in order to complete the MWP. Further, an extension policy is in place which grants further extension in exploration phases by a period from 12-18 months on payment of pre-estimated liquidated damages @ 10%-30% and furnishing of BG @ 50%-100% of the amount of un-finished work Programme or additional work programme as the case may be.
There has been a sudden spurt in exploration activity world wide since 2007 due to high crude oil prices, which led to acute shortage in availability of deepwater rigs world wide. The non-availability of deepwater rigs has adversely affected the completion of the minimum work commitments of drilling by various contractors of deepwater blocks. The contractors of these deepwater blocks and Association of Oil & Gas Operators requested the government to grant a drilling moratorium of 3 years to compensate for the time being lost on account of non availability of deepwater rigs.
akt/ad/lv/dk/kol/14:33 hrs.
Press Information Bureau
Government of India
* * * * * *
Ministry of Petroleum & Natural Gas
Closure of North Coast Marine Area 2 (NCMA 2) Project in Trinidad and Tobago (T&T) by ONGC Mittal Energy Limited (OMEL)
New Delhi: July 8, 2010
The Cabinet Committee on Economic Affairs today granted ex-post-facto approval for withdrawal of ONGC Videsh Limited (OVL) (as co-venturer in OMEL) from North Coast Marine Area 2 (NCMA 2) project in Trinidad & Tobago after incurring an expenditure of about USD 1 Million.
Background
The Cabinet Committee on Economic Affairs in its meeting held in June, 2008 had considered and approved the investment by OVL in exploratory block NCMA 2 as recommended by ECS. Pertrotrin, National Oil Company of Trinidad & Tobago had to be carried for up to 35% participating interest (PI) during the first exploration phase in NCMA 2 project. Thereafter, Pertotrin was supposed to pay for its PI. The remaining 65% PI was to be acquired by OMEL wherein OVL's share was to invest up to USD 155 Million with Internal Rate of Return (IRR) more' than 14%. The Production Sharing Contract (PSC) for the block NCMA 2 was signed in December, 2008. In the absence of any agreement between OMEL and Pertotrin in respect of Petrotrin's carry arrangement the PSC was kept in Escrow till January, 2009. The carry agreement was duly negotiated by OMEL with Pertrotrin but could not be finalized between them by January, 2009 primarily on account of differences of opinion on treatment of disallowed costs for recovery by Ministry of Energy and Energy Industries (MOEEI) audit. OVL had insisted that as per normal practice, the disallowed costs should be shared by Pertrotrin also as partner, but the issue could not be resolved.
Meanwhile, Mittal Investment Saral (MIS) expressed their intention to withdraw from the block in view of the global economic meltdown and the ability to finalize the carry agreement. This necessitated OVL to have a relook on the previous evaluation to assess whether OVL can take the entire available stake.
Investment proposal of OVL would have enabled the country to have access to equity oil abroad in case of discovery. Considering all aspects of the situation and the then depressed markets, OVL came to the conclusion that in the absence of MIS, it would not like to continue on 100% standalone basis with an estimated expenditure of USD 304 Million, In order to mitigate the financial exposure of the Joint Venture, OVL/OMEL also worked on the possibility of having another international E&P company as partner in the Block. Some companies (Centrica, RWE Dea Ag, Germany, BG, Repsol) had expressed interest but subsequently withdrew. In such a situation, OVL did not have other option but to agree to OMEL's exit from the project.
OMEL spent an amount of USD 2,068,540.93 on T&T project till 30th June 2009. As OVL has 51% stake in OMEL, its share of expenditure was about USD 1,054,955.87 at the time of withdrawal from the project.
akt/ad/lv/dk/kol/14:33 hrs.
Press Information Bureau
Government of India
* * * * * *
Ministry of Health and Family Welfare
National Programme for Prevention and Control of Cancer, Diabetes, Cardiovascular diseases and Stroke (NPCDCS) approved
New Delhi: July 8, 2010
The Cabinet Committee on Economic Affairs today approved the National Programme for Prevention and Control of Cancer, Diabetes, Cardiovascular Diseases and Stroke (NPCDCS) for implementation of its various components during the remaining period of 11th Five year plan (i.e. 2010-11 & 2011-12) at an estimated outlay of Rs. 1230.90 crore (Rs.499.38 crore for interventions on diabetes and cardiovascular diseases & stroke and Rs.731.52 crore for cancer control) on a cost sharing basis between the Centre and the States at the rate of 80:20.
It also approved the inter-usability of funds from one component to another within the same group of diseases, limited to a ceiling of 10%, in order to impart operational flexibility in implementation of these programs. Transfer of funds from one component to the other beyond this limit would be decided by the Empowered Programme Committee (EPC) and Mission Steering Group (MSG). Approval has also been accorded for empowering the MSG and EPC setup under the National Rural Health Mission (NRHM) to approve financial norms in respect of all components of the Programme.
The programme will be implemented in 20,000 Sub-Centres and 700 Community Health Centres (CHCs) in 100 Districts across 15 States/UTs by promoting healthy lifestyle through massive health education and mass media efforts at country level, opportunistic screening of persons above the age of 30 years, establishment of Non Communicable Disease (NCD) clinics at CHC and district level, development of trained manpower and strengthening of tertiary level health facilities.
It is expected to screen over seven crore adult population (30 years & above) for diabetes and hypertension, early diagnosis of NCDs and treatment at early stages. To fill the gap in the health delivery system, about 32,000 health personnel would be trained at various levels to provide opportunistic and targeted screening, diagnosis and management of NCDs. With the successful implementation of the programme, it is expected to achieve behaviour change in the community to adopt healthy life styles including dietary patterns, enhanced physical activity and reduced intake of tobacco and alcohol resulting in overall reduction in the risk factors of common NCDs in the community.
Background:
The country is experiencing a rapid health transition with a rising burden of Non-Communicable Diseases(NCDs) which are emerging as the leading cause of death in India accounting for over 42% of all deaths with considerable loss in potentially productive years (aged 35-64 years) of life. According to a WHO report (2002), cardiovascular diseases (CVDs) will be the largest cause of death and disability in India by 2020. It is estimated that the overall prevalence of diabetes, hypertension, Ischemic Heart Diseases (IHD) and Stroke is 62.47, 159.46, 37.00 and 1.54 respectively per 1000 population of India. There are an estimated 25 Lakh cancer cases in India. The cost implications of NCDs to society are enormous and run into thousands of crore of rupees that include direct costs to people with illness, their families and indirect costs to society, due to reduced productivity.
Major risk factors for these NCDs are raised blood pressure, cholesterol, tobacco use, unhealthy diet, physical inactivity, alcohol consumption, and obesity which are modifiable. Hence a majority of cancers and CVDs can be prevented and treated if diagnosed at an early stage. Health promotion and prevention of chronic NCDs are yet to be adequately addressed in the country's health system. Presently, Clinical services, too, are not adequately equipped to provide the required level of care for these diseases in primary and secondary health-care settings. Therefore, the appropriate strategies have been devised to be implemented under NPCDCS to ensure that the NCDs can be prevented and managed in an effective manner.
akt/ad/lv/dk/kol/14:34 hrs.
Press Information Bureau
Government of India
* * * * * *
Ministry of Urban Development
Amendment of the Public Premises (Eviction of Unauthorised
Occupants) Act 1971 so as to include the properties of Metro Rails
etc. and New Delhi Municipal Council within the definition of 'Public Premises' Act
New Delhi: July 8, 2010
The Union Cabinet today approved amendment in Section 2 of Public Premises ( Eviction of Unauthorised Occupants) Act, 1971, in order to bring the properties of Delhi Metro Rail Corporation (DMRC), other Metro Rails, and New Delhi Municipal Council within the definition of 'public premises'.
This will enable eviction of unauthorised occupants of these properties without delay.
Background:
The amendment to New Delhi Municipal Council is only a matter of abundant caution to remove any doubt in this regard since the properties of the New Delhi Municipal Committee are already included in the existing definition of the public premises. The word Municipal Council is being added to ensure that the properties of New Delhi Municipal Council as successor of New Delhi Municipal Committee remain covered under the definition of public premises and there is no technical or legal lacuna in this regard.
akt/ad/lv/dk/kol/14:34 hrs.
Press Information Bureau
Government of India
* * * * * *
Ministry of Consumer Affairs, Food & Public Distribution
India's accession to Convention on Control and Marking of Articles of Precious Metals (Vienna Convention 1972) approved
New Delhi: July 8, 2010
The Union Cabinet today approved the proposal for Accession by India to Convention on Control and Marking of Articles of Precious Metals known as Vienna Convention 1972.
Accession of India to the Vienna Convention will result in technological upgradation of the Assaying and Hallmarking Centres in the country and their recognition by the members of the Vienna Convention, apart from facilitating export of jewellery articles. Assaying Centres recognized by the Convention countries will be authorized to put the Common Control Mark (CCM) on jewellery articles of precious metals meant for exports. Jewellery articles marked for exports by such recognized Assaying Centres in India would not be subjected to further tests for purity in the member countries of Vienna Convention, thus facilitating export of jewellery items from India. Upgradation and international recognition of Assaying Centres will also result in improvements in the quality of gold jewellery articles in the domestic market, thus benefiting the Indian consumers.
The higher level of consumer awareness about the purity of jewellery articles will make the jewellers in India more accountable to the Indian consumers.
BACKGROUND:
The Convention on Control and Marking of Articles of Precious Metals is an international treaty among States to facilitate cross border trade in precious metal articles. It was signed by seven Members of the European Free Trade Association (EFTA) in Vienna in November, 1972 and came into force in 1975. The Convention has 18 members now with 11 more countries, viz. Cyprus, Denmark, Hungary, Ireland, Israel, the Czech Republic, the Netherlands, Latvia, Lithuania, Slovak Republic and Poland joining later. The Convention aims to facilitate trade in precious metal articles and promote consumer protection. It also provides for a common set of technical requirements useful for independent third party verification (hallmarking) and a Common Control Mark indicating fineness.
akt/ad/lv/dk/kol/14:34 hrs.
Press Information Bureau
Government of India
* * * * * *
Ministry of Rural Development
Modification to the Funding Pattern for the North-Eastern States Under the National Land Records Modernisation Program (NLRMP)
New Delhi: July 8, 2010
Decks have been cleared for changing the funding pattern for the North-Eastern (NE) States under the National Land Records Modernization Programme (NLRMP), to allow for Central: State cost sharing on a 90:10 basis for the following components:
a) Survey/re-survey and updating of the survey & settlement records (including ground control network and ground truthing),
b) Computerization of registration,
c) Modern Record Rooms/ Land Records Management centres at tehsil/taluk /circle /block level.
Earlier the Central share ranged from 25% to 50% for these components. The Union Cabinet today approved the proposal of the Department of Land Resources, Ministry of Rural Development for the same. For the rest of the components of the programme, the provision of 100% Central funding will be retained.
It is expected that the modifications in the funding pattern will encourage the North Eastern States for implementation of the NLRMP. This will lead to establishment of proper land records maintenance and registration systems in these remote and strategically located States.
akt/st/bs/dk/kol/14:35 hrs.
Press Information Bureau
Government of India
* * * * * *
Ministry of Rural Development
Modification to the funding pattern for the North-Eastern States under the National Land Records Modernisation Programme (NLRMP)
New Delhi: July 8, 2010
The Union Cabinet today approved the proposal of the Department of Land Resources, Ministry of Rural Development to change the funding pattern for the North-Eastern (NE) States under the Centrally- sponsored scheme of the National Land Records Modernization Programme (NLRMP), to allow for Central: State cost sharing on a 90:10 basis for the following components under the NLRMP. Earlier the Central share ranged from 25% to 50% for the following activities:
a) Survey/re-survey and updating of the survey & settlement records (including ground control network and ground truthing),
b) Computerization of registration,
c) Modern Record Rooms/ Land Records Management centres at tehsil /taluk /circle /block level.
For the rest of the components of the programme, the provision of 100% Central funding will be retained.
The above modifications in the funding pattern will encourage the North Eastern States for implementation of the NLRMP. This will lead to establishment of proper land records maintenance and registration systems in these remote and strategically located States.
akt/ad/lv/dk/kol/14:35 hrs.
Press Information Bureau
Government of India
* * * * * *
Cabinet
Amendment of the Public Premises (Eviction of Unauthorised
Occupants) Act 1971 so as to include the properties of Metro Rails
etc. and New Delhi Municipal Council within the definition of 'Public Premises' Act
New Delhi: July 8, 2010
The Union Cabinet today approved amendment in Section 2 of Public Premises ( Eviction of Unauthorised Occupants) Act, 1971, in order to bring the properties of Delhi Metro Rail Corporation (DMRC), other Metro Rails, and New Delhi Municipal Council within the definition of 'public premises'.
This will enable eviction of unauthorised occupants of these properties without delay.
Background:
The amendment to New Delhi Municipal Council is only a matter of abundant caution to remove any doubt in this regard since the properties of the New Delhi Municipal Committee are already included in the existing definition of the public premises. The word Municipal Council is being added to ensure that the properties of New Delhi Municipal Council as successor of New Delhi Municipal Committee remain covered under the definition of public premises and there is no technical or legal lacuna in this regard.
akt/ad/lv/dk/kol/14:35 hrs.
Press Information Bureau
Government of India
* * * * * *
Cabinet
Authorised share capital of National Minorities Development Finance Corporation (NMDFC) increased
New Delhi: July 8, 2010
The Union Cabinet today accorded approval for increasing the authorized share capital of National Minorities Development Finance Corporation (NMDFC) from Rs.1,000 crore to Rs.1,500 crore. The share of Government of India, State Governments and individuals/institutions will be Rs. 975 crore, Rs. 390 crore and Rs. 135 crore respectively.
The equity contribution from Government of India, together with contribution from State Governments and individuals/institutions and also the recovery of loans from beneficiaries will be spent for providing term loans and micro finance through State Channelizing Agencies (SCAs) and for providing micro finance through NGOs. NMDFC also provides educational loans and has promotional schemes like vocational training etc.
As per the MoU, 87,984 beneficiaries are to be covered during 2010-11. During this period, the budgetary provision of Rs.115 crore will be released to NMDFC by way of equity contribution of the Central Government.
NMDFC's schemes are targeted for economic upliftment of people from minority communities living below the poverty line through self-employment.
BACKGROUND:
NMDFC is a not-for-profit company, registered under Section 25 of the Companies Act. with share contribution from Government of India (65%), State Governments (26%) and individuals / institutions (9%). It provides financial assistance to people belonging to minorities living below double the poverty line for self-employment. NMDFC is dependant on Central equity contribution. The enhanced authorized share capital will enable the Central Government release its full budgetary provision of Rs. 115 crore towards equity of NMDFC in 2010-11.
akt/ad/lv/dk/kol/14:36 hrs.
Press Information Bureau
Government of India
* * * * * *
Cabinet Committee on Economic Affairs (CCEA)
National Programme for Prevention and Control of Cancer, Diabetes, Cardiovascular diseases and Stroke (NPCDCS) approved
New Delhi: July 8, 2010
The Cabinet Committee on Economic Affairs today approved the National Programme for Prevention and Control of Cancer, Diabetes, Cardiovascular Diseases and Stroke (NPCDCS) for implementation of its various components during the remaining period of 11th Five year plan (i.e. 2010-11 & 2011-12) at an estimated outlay of Rs. 1230.90 crore (Rs.499.38 crore for interventions on diabetes and cardiovascular diseases & stroke and Rs.731.52 crore for cancer control) on a cost sharing basis between the Centre and the States at the rate of 80:20.
It also approved the inter-usability of funds from one component to another within the same group of diseases, limited to a ceiling of 10%, in order to impart operational flexibility in implementation of these programs. Transfer of funds from one component to the other beyond this limit would be decided by the Empowered Programme Committee (EPC) and Mission Steering Group (MSG). Approval has also been accorded for empowering the MSG and EPC setup under the National Rural Health Mission (NRHM) to approve financial norms in respect of all components of the Programme.
The programme will be implemented in 20,000 Sub-Centres and 700 Community Health Centres (CHCs) in 100 Districts across 15 States/UTs by promoting healthy lifestyle through massive health education and mass media efforts at country level, opportunistic screening of persons above the age of 30 years, establishment of Non Communicable Disease (NCD) clinics at CHC and district level, development of trained manpower and strengthening of tertiary level health facilities.
It is expected to screen over seven crore adult population (30 years & above) for diabetes and hypertension, early diagnosis of NCDs and treatment at early stages. To fill the gap in the health delivery system, about 32,000 health personnel would be trained at various levels to provide opportunistic and targeted screening, diagnosis and management of NCDs. With the successful implementation of the programme, it is expected to achieve behaviour change in the community to adopt healthy life styles including dietary patterns, enhanced physical activity and reduced intake of tobacco and alcohol resulting in overall reduction in the risk factors of common NCDs in the community.
Background:
The country is experiencing a rapid health transition with a rising burden of Non-Communicable Diseases(NCDs) which are emerging as the leading cause of death in India accounting for over 42% of all deaths with considerable loss in potentially productive years (aged 35-64 years) of life. According to a WHO report (2002), cardiovascular diseases (CVDs) will be the largest cause of death and disability in India by 2020. It is estimated that the overall prevalence of diabetes, hypertension, Ischemic Heart Diseases (IHD) and Stroke is 62.47, 159.46, 37.00 and 1.54 respectively per 1000 population of India. There are an estimated 25 Lakh cancer cases in India. The cost implications of NCDs to society are enormous and run into thousands of crore of rupees that include direct costs to people with illness, their families and indirect costs to society, due to reduced productivity.
Major risk factors for these NCDs are raised blood pressure, cholesterol, tobacco use, unhealthy diet, physical inactivity, alcohol consumption, and obesity which are modifiable. Hence a majority of cancers and CVDs can be prevented and treated if diagnosed at an early stage. Health promotion and prevention of chronic NCDs are yet to be adequately addressed in the country's health system. Presently, Clinical services, too, are not adequately equipped to provide the required level of care for these diseases in primary and secondary health-care settings. Therefore, the appropriate strategies have been devised to be implemented under NPCDCS to ensure that the NCDs can be prevented and managed in an effective manner.
akt/ad/lv/dk/kol/14:36 hrs.
Press Information Bureau
Government of India
* * * * * *
Cabinet Committee on Economic Affairs (CCEA)
Grant of Rig Holiday in Deepwater Blocks under Production Sharing Contract (PSC) Regime approved
New Delhi: July 8, 2010
The Cabinet Committee on Economic Affairs today approved the grant of drilling moratorium of three years to all deepwater block Production Sharing Contracts (PSCs) signed under various rounds of exploration till the NELP- V rounds where drilling commitments are pending as on 1st January, 2009.
With grant of drilling moratorium, the objective of accelerated exploration of hydrocarbons in the country would be accomplished, which may lead to new discoveries of oil & gas.
The proposal would be implemented immediately and the contractors would be asked to complete the drilling commitments during the moratorium period of three years.
There is no financial expenditure involved on behalf of the Government. The drilling moratorium dispensation would apply to 30 PSCs involving three contractors.
The main objective of the drilling moratorium dispensation is to enable the contractors to meet the drilling commitments under various PSCs, which have been adversely affected on account of world-wide shortage in availability of deepwater rigs since 2007 due to the then prevailing high crude oil prices. The brief details of the dispensation are as follows:
1. A drilling moratorium of three years starting from 1st January, 2008 to 31st December 2010 is granted to deepwater block PSCs signed upto NELP-V, where drilling commitments are existing as on 1st January, 2009 ( total of 30 exploration blocks). This policy will apply to all types of drilling, viz. exploratory and appraisal drilling where commitments are pending as on 1st January, 2009 except for development drilling commitments.
2. In the deepwater blocks where exploration phase has already expired with unfulfilled drilling commitments, the provisions of PSC or the extension policy will apply and contractors will be required to regularize the intervening period, if any, by seeking normal extensions under the PSC or the extension policy till the effective date of the proposed relaxation.
3. In case a contractor fails to complete the drilling commitment at the end of the said moratorium period, the contractor would be required to deposit with the Government the cost of un-finished work programme along with interest as per the SBI PLR (Prime Lending Rate) plus 2% from the start of the drilling moratorium till the date of payment by the Contractor, in case the relevant exploration phase duration and maximum extension as per extension policy has already been availed.
Background
Under the Production Sharing Contracts (PSC), there is commitment on the part of the contractor to carry out Minimum Work Programme (MWP) specified under each exploration phase. The PSCs signed till NELP-V constitute 3 exploration phases with phase-l, II & III comprising of 8 years (4+2+2) for deepwater blocks. In case of non-completion of MWP at the end of an exploration phase, the block stands relinquished and the contractor has to pay the equivalent amount of un-finished work programme with the Government. An exploration phase can be extended, as per PSC, by a period of 6 months in order to complete the MWP. Further, an extension policy is in place which grants further extension in exploration phases by a period from 12-18 months on payment of pre-estimated liquidated damages @ 10%-30% and furnishing of BG @ 50%-100% of the amount of un-finished work Programme or additional work programme as the case may be.
There has been a sudden spurt in exploration activity world wide since 2007 due to high crude oil prices, which led to acute shortage in availability of deepwater rigs world wide. The non-availability of deepwater rigs has adversely affected the completion of the minimum work commitments of drilling by various contractors of deepwater blocks. The contractors of these deepwater blocks and Association of Oil & Gas Operators requested the government to grant a drilling moratorium of 3 years to compensate for the time being lost on account of non availability of deepwater rigs.
akt/ad/lv/dk/kol/14:37 hrs.
Press Information Bureau
Government of India
* * * * * *
Ministry of Minority Affairs
Authorised share capital of National Minorities Development Finance Corporation (NMDFC) increased
New Delhi: July 8, 2010
The Union Cabinet today accorded approval for increasing the authorized share capital of National Minorities Development Finance Corporation (NMDFC) from Rs.1,000 crore to Rs.1,500 crore. The share of Government of India, State Governments and individuals/institutions will be Rs. 975 crore, Rs. 390 crore and Rs. 135 crore respectively.
The equity contribution from Government of India, together with contribution from State Governments and individuals/institutions and also the recovery of loans from beneficiaries will be spent for providing term loans and micro finance through State Channelizing Agencies (SCAs) and for providing micro finance through NGOs. NMDFC also provides educational loans and has promotional schemes like vocational training etc.
As per the MoU, 87,984 beneficiaries are to be covered during 2010-11. During this period, the budgetary provision of Rs.115 crore will be released to NMDFC by way of equity contribution of the Central Government.
NMDFC's schemes are targeted for economic upliftment of people from minority communities living below the poverty line through self-employment.
BACKGROUND:
NMDFC is a not-for-profit company, registered under Section 25 of the Companies Act. with share contribution from Government of India (65%), State Governments (26%) and individuals / institutions (9%). It provides financial assistance to people belonging to minorities living below double the poverty line for self-employment. NMDFC is dependant on Central equity contribution. The enhanced authorized share capital will enable the Central Government release its full budgetary provision of Rs. 115 crore towards equity of NMDFC in 2010-11.
akt/ad/lv/dk/kol/14:37 hrs.
--
Palash Biswas
Pl Read:
http://nandigramunited-banga.blogspot.com/
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